Azkivam
Azkivam is an Iranian fintech operating a guarantor-free BNPL and installment credit platform, serving individual consumers with credit up to 300 million Tomans through 709+ partner merchants across retail, gold, and travel categories.
- Company typePrivate
- Founded2020
- HeadquartersTehran, Iran
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Azkivam does
Azkivam (ازکیوام), operated by Afra Digital Capital Company, is an Iranian fintech platform founded in 2020 and headquartered in Tehran that provides guarantor-free buy-now-pay-later (BNPL) and installment credit to individual consumers. The company runs a self-serve digital platform accessible via web and mobile applications (iOS, Android via Cafebazaar and Myket), through which applicants undergo creditworthiness assessment against banking history and bounced-check records, receive approval, and use a digital credit wallet (کیف پول اعتباری) to purchase goods and services at partner merchants both online and in physical stores with credit approval achievable in under 30 minutes.
The product portfolio is organized around differentiated credit facilities: long-term credit (اعتبار بلندمدت) up to 300 million Tomans over 12-18 monthly installments backed by a single Sayad check; short-term Propay BNPL (اعتبار کوتاهمدت) for 4-installment or next-month purchases starting from 5 million Tomans; Beta credit (اعتبار بتا) for Social Security retirees up to 100 million Tomans with automatic pension deduction; gold and silver investment credit (خرید اقساطی طلا و نقره) up to 200 million Tomans where the purchased metal is held as collateral until repayment; travel credit (وام سفر و گردشگری) for flights, tours, and hotels; and in-store credit (خرید حضوری) for offline retail. Distribution runs through 709+ partner merchants spanning digital goods, fashion, gold and jewelry, home appliances, automotive, tourism, sports, beauty, and healthcare, plus co-distribution partnerships with banks including Blu Bank (بلوبانک) and Novin Bank (بانک اقتصاد نوین) and a strategic partnership with the Social Security Organization (سازمان تامین اجتماعی) for retiree lending.
Revenue is generated from two streams: installment and transaction fees on credit extended to consumers (spread between credit advanced and total repayment over 4-24 monthly installments), and merchant commissions or network fees paid by partner merchants for access to the credit infrastructure and customer base. Pricing is per-transaction and creditworthiness-tailored rather than subscription-based, with specific interest rates and fees not publicly disclosed. The company holds Iranian Knowledge-Based Company (دانش بنیان), Fintech (فینتک), E-Namad, Samandehi, and E-Cunion certifications, and operates exclusively in Iran with 101-250 employees and no disclosed external institutional funding.
Azkivam firmographics
Firmographics- Name
- Azkivam
- Legal name
- Afra Digital Capital Company (Azkivam)
- Website
- https://azkivam.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Azkivam is an Iranian fintech operating a guarantor-free BNPL and installment credit platform, serving individual consumers with credit up to 300 million Tomans through 709+ partner merchants across retail, gold, and travel categories.
- Ownership category
- akta.pro rank
Azkivam industry classification
Industry- Product category
- Consumer Installment Lending (BNPL)
- NAICS
- Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Merchant-Integrated BNPL (Online Checkout) (FSAKACAA)
- akta.pro secondary industries
- Buy Now, Pay Later (BNPL) Platforms (BPAMAFAG), Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), In-Store / In-Person BNPL (POS) (FSAKACAB), Buy Now, Pay Later (BNPL) (CRAFALAD), BNPL for Digital Goods & Subscriptions (FSAKACAL)
Keywords
Where Azkivam is headquartered
LocationHeadquarters
- HQ city
- Tehran
- HQ country
- Iran
- HQ region
- Middle East
Offices1 record
Markets served
Azkivam business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain
Revenue model
- Installment/Transaction Fees: Azkivam charges fees or interest on the credit extended to consumers for purchasing goods and services in installments. The revenue comes from the spread between the credit amount extended and the total repayment amount over 4-24 monthly installments.
- Merchant Commission / Network Fees: Partner merchants pay Azkivam for access to the credit infrastructure and customer base, facilitating sales through the installment purchasing platform.
- Short-term BNPL (Propay): Short-term credit product with 4 installments or single next-month payment, potentially generating fees per transaction or interest on deferred payments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Long-term credit: up to 300 million Tomans, 12-24 monthly installments |
| Transaction based/ take rate | Monthly | Gold/Silver investment credit: 30-200 million Tomans, 6-24 monthly installments |
| Transaction based/ take rate | Pay-as-you-go | Short-term BNPL (Propay): from 5,000,000 Tomans, 4 installments or 1 month |
| Transaction based/ take rate | Monthly | Beta credit for retirees: up to 100 million Tomans, 12 installments |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels4 records
Azkivam product offering
Product offeringCore offering
Azkivam is an Iranian BNPL and installment credit platform that enables individual consumers to purchase goods and services from a network of 709+ partner merchants in 4 to 24 monthly installments without requiring a guarantor. The platform runs a digital credit wallet, performs creditworthiness assessments, and offers tailored products including long-term goods credit (up to 300 million Tomans), short-term BNPL (Propay), retiree pension-deducted credit (Beta), gold and silver investment credit with metal held as collateral, travel credit, and in-store credit approved in under 30 minutes.
Product overview
Azkivam is a financial technology platform providing buy-now-pay-later (BNPL) and installment credit services in Iran. The platform operates through multiple credit products: Long-term Credit (اعتبار بلندمدت) offering up to 300 million tomans over 12-18 installments; Short-term Credit (اعتبار کوتاهمدت) as a BNPL service with 1 or 4 installment options; Beta Credit (اعتبار بتا) for Social Security retirees up to 100 million tomans; Gold and Silver Investment purchasing with credit up to 200 million tomans; and Travel Credit for flight tickets, tours, and hotels. The platform partners with over 700 merchants across categories including digital goods, gold/jewelry, home appliances, fashion, vehicles, and tourism. All credit products require minimal documentation (typically one Cheque Sayadi) and no guarantor, with in-store credit available in under 30 minutes.
Differentiator
Problem solved
Functional benefit
Products and services
- Long-term Credit (وام بلندمدت) Long-term installment credit offering up to 300 million Tomans for purchasing goods and services from Azkivam's partner merchants, repayable in 12 or 18 monthly installments, requiring only one Sayad cheque as collateral and no guarantor. Targeted at Iranian consumers needing to finance large purchases in an inflationary market.
- Short-term BNPL (Propay / اعتبار کوتاهمدت) Short-term buy-now-pay-later credit starting from 5,000,000 Tomans allowing purchases in 4 installments or 1 next-month installment, with no bank interest and only a potential commission percentage, no guarantor, cheque, or time-limited restrictions, and renewable upon timely payment. Targeted at consumers making smaller purchases who want short-cycle installment options.
- Beta Credit for Retirees (اعتبار بتا / بازنشستگان) Special installment credit product for Social Security Organization retirees offering up to 100 million Tomans with 12-month repayment automatically deducted from pension payments, requiring no cheque or guarantor. Available to Social Security retirees and pensioners through a partnership with the Social Security Organization and Blu Bank.
- Gold and Silver Installment Credit (خرید اقساطی طلا و نقره) Installment gold and silver purchasing service allowing online purchase of raw gold and silver from partner gold merchants without markup fees, with credit from 30 to 200 million Tomans and repayment in 6, 12, 18, or 24 monthly installments; no cheque or guarantor required, and the purchased gold/silver is blocked as collateral until installments are completed.
- Travel Credit (وام سفر و گردشگری) Travel installment credit service for purchasing airline tickets, tours, and hotel accommodations through Azkivam's tourism partner merchants (including Safarme, Otaghak, Jajiga), available for both domestic and international travel and repaid in installments.
- In-Store Credit (خرید حضوری) In-store credit service enabling customers visiting physical partner stores to receive credit approval in under 30 minutes on-site for in-store purchases, with credit limits up to 300 million Tomans over 18 months; available for gold and jewelry, digital goods, home and kitchen, and beauty/health categories.
- Milli Gold Installment Program (خرید اقساطی از میلی) Specialized installment purchasing program offered in partnership with Melli (Milli) Gold, providing up to 200 million Tomans in credit for purchasing gold from Melli with 12 or 18-month repayment schedules.
- Digital Credit Wallet (کیف پول اعتباری) Proprietary online credit wallet that holds an approved credit balance rechargeable upon credit approval and used to pay Azkivam's partner merchants directly for goods and services; this is the core platform component that powers all Azkivam credit products.
Quantifiable outcome
- Gold prices in Iran reportedly grew over 500% in 3 years, driving demand for Azkivam's gold purchasing credit product
- +2 more outcomes
Companies that use Azkivam
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Azkivam technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Azkivam partnerships and signals
Strategic signalPartnerships
22 partnerships are on record, tiered minor and core.
- Madiran (مادیران)minorMadiran is a partner merchant on Azkivam's platform, offering consumer goods for purchase through Azkivam's installment credit.
- Parsis (پارسیس)minorParsis is a partner merchant on Azkivam's platform offering various consumer goods via installment credit.
- Digi Zargar (دیجی زرگر)minorDigi Zargar is a partner gold/jewelry merchant on Azkivam's platform.
- Digi Land (دیجی لند)minorDigi Land is a partner merchant on Azkivam's platform.
- Tapsi Shop (تپسی شاپ)minorTapsi Shop is a partner merchant on Azkivam's platform offering a wide range of products including digital goods and gold via installment credit.
- Technolife (تکنولایف)minorTechnolife is a partner merchant on Azkivam's platform offering digital goods and home appliances via installment credit.
- Gooshi Shop (گوشی شاپ)minorGooshi Shop is a partner merchant on Azkivam's platform specializing in mobile phones, gold, and digital goods with installment purchasing options.
- Gallery Delaram (گالری طلای دلارام)minorGallery Delaram is a partner gold merchant on Azkivam's platform, offering gold coins, bars, and jewelry for installment purchase.
- Talasea (طلایه)minorTalasea is a partner merchant for gold purchasing on Azkivam's collateral/investment credit program.
- Melli Gold (میلی گلد)coreMelli Gold (Milli) is a key partner for Azkivam's gold purchasing credit service. Azkivam offers up to 200 million Tomans credit for purchasing gold from Melli, with 12 or 18 monthly installments. This is one of Azkivam's flagship specialized credit products.
- Social Security Organization (سازمان تامین اجتماعی)coreThe Social Security Organization is the partner for Azkivam's Beta credit product specifically designed for retired pensioners. Credit is automatically deducted from pension payments.
- Saaz Plaza (سازپلازا)minorSaaz Plaza is a partner merchant on Azkivam's platform.
- Safarme (سفرمی)Safarme is a partner merchant for tourism services on Azkivam's platform.
- Zitro (زیترو)minorZitro is a partner merchant on Azkivam's platform offering digital goods and gaming consoles for installment purchase.
- Kahroba Gold (طلا و جواهر کهربا)minorKahroba Gold is a partner gold and jewelry merchant on Azkivam's platform.
- Roja Gold Gallery (روژا گالری)minorRoja Gold Gallery is a partner gold merchant on Azkivam's platform offering gold jewelry for installment purchase.
- Mozafar Gold (طلای مظفر)minorMozafar Gold is a partner gold merchant on Azkivam's platform.
- Otaghak (اتاقک)minorOtaghak is a partner merchant for vacation rentals on Azkivam's platform.
- Jajiga (جاجیگا)minorJajiga is a partner merchant for vacation rental services on Azkivam's platform.
- Talap (طلاپ)minorTalap is a partner merchant for gold purchasing on Azkivam's collateral credit program.
- Zarpay (زرپی)minorZarpay is a partner merchant for gold purchasing on Azkivam's collateral credit program.
- Noghre Sea (نقره سی)minorNoghre Sea is a partner merchant for silver purchasing on Azkivam's collateral credit program.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Azkivam competitors and assessment
Company assessmentBroad incumbents
- Klarna: Klarna is a global BNPL incumbent offering installment and pay-later products across merchant networks. While not operating in Iran, it represents the BNPL business model Azkivam is emulating and is a benchmark for valuation and product design.
- Affirm: Affirm is a US-listed BNPL and installment credit provider serving merchants across digital commerce. As a broad incumbent in the same product category, it is a relevant business-model benchmark even though it does not operate in Iran.
- Afterpay: Afterpay is a global BNPL incumbent offering pay-in-4 and installment products at checkout. It serves as a product and go-to-market reference for Azkivam's merchant-integrated BNPL approach.
Emerging players
- Iskipay: Iskipay is an emerging Iranian BNPL and consumer credit fintech focused on digital and in-store installment purchasing. It targets a similar customer base to Azkivam with a narrower product set, making it a partial-overlap emerging peer.
Direct peers
- Froma (فرما): Froma is an Iranian BNPL fintech offering installment-based purchasing across partner merchants. It targets the same guarantor-free, digital consumer credit segment that Azkivam serves and competes for similar merchant integrations.
- Digipay (دیجیپی): Digipay is one of Iran's largest BNPL and consumer credit platforms, offering installment purchasing and a digital wallet across partner merchants. It is a direct competitor to Azkivam with the same merchant-integrated BNPL model and Iranian consumer focus.
- Tappy (تاپی): Tappy is an Iranian BNPL platform providing installment payment options at point-of-sale and online. It is directly comparable to Azkivam's short-term and long-term credit products across Iranian merchants.
- Snapp Pay: Snapp Pay is the BNPL and consumer credit arm of Snapp, Iran's leading ride-hailing super-app. It offers installment-based purchasing across merchants and competes with Azkivam for the same Iranian digital consumer credit wallet.
- Blu Bank (بلوبانک): Blu Bank is an Iranian digital bank and Azkivam's named financial partner for the Beta retiree product. It also offers its own installment and credit products, making it both a partner and a direct competitor in the Iranian consumer BNPL/credit space.
Regional players
- Bank Melli Iran (بانک ملی): Bank Melli is one of Iran's largest state-owned banks and operates Melli Gold, a named partner of Azkivam for gold-backed credit. While primarily a banking institution, its consumer credit, gold, and payment activities overlap with Azkivam's merchant and gold-credit products.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Azkivam social profiles
Digital presenceAzkivam compliance and trust
Trust signalCompliance5 records
Azkivam financial estimates
Financial estimateRevenue estimate
Valuation estimate
Azkivam leadership team
Management profileNumber of profiles
Profiles2 records
Azkivam funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Azkivam M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Azkivam
What does Azkivam do?
Azkivam is an Iranian BNPL and installment credit platform that enables individual consumers to purchase goods and services from a network of 709+ partner merchants in 4 to 24 monthly installments without requiring a guarantor. The platform runs a digital credit wallet, performs creditworthiness assessments, and offers tailored products including long-term goods credit (up to 300 million Tomans), short-term BNPL (Propay), retiree pension-deducted credit (Beta), gold and silver investment credit with metal held as collateral, travel credit, and in-store credit approved in under 30 minutes.
Is Azkivam a public or private company?
Azkivam is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Azkivam founded?
Azkivam was founded in 2020. It employs 101 to 250 people.
Where is Azkivam based?
Azkivam is headquartered in Tehran, Iran, in the Middle East region.
How does Azkivam make money?
Three revenue lines are on record. Installment/Transaction Fees are the primary driver. The others are merchant Commission / Network Fees and short-term BNPL (Propay).
Who are Azkivam's main competitors?
Broad incumbents on record are Klarna, Affirm and Afterpay. Iskipay is listed as an emerging player. Direct peers are Froma (فرما), Digipay (دیجیپی), Tappy (تاپی), Snapp Pay and Blu Bank (بلوبانک). Bank Melli Iran (بانک ملی) is listed as a regional player.
Does Azkivam have an API?
No public API is recorded for Azkivam.
What industry is Azkivam in?
Azkivam's product category is Consumer Installment Lending (BNPL). Its primary akta.pro industry code is FSAKACAA, Merchant-Integrated BNPL (Online Checkout), with a secondary code of BPAMAFAG, Buy Now, Pay Later (BNPL) Platforms. Its NAICS code is 52222 and its SIC code is 6141.