Epoint — First in Azerbaijan with a Fintech License
We are proud to announce significant achievements by our portfolio startup Epoint, a leader in online payments in Azerbaijan!
🌟Obtaining a fintech license
Epoint became the first startup in Azerbaijan to receive a fintech license from the Central Bank of the Republic of Azerbaijan. This confirms that Epoint meets the highest standards of security and reliability in financial technology. As the company put it: “Receiving a fintech license from the Central Bank is a recognition of the quality and security of our services. It is a significant step in our journey from a startup to a market leader.”
🔍Key focus areas and product roadmap
The NBCO business segment remains the key growth driver, but Epoint is actively growing its share of the e-commerce market. The sales team is working hard to bring on new merchants, and as the e-commerce market expands, the company plans to sustain steady growth.
Development of merchant apps for the App Store and Google Play has also been completed, and they will be released soon. A payment orchestration product (Epoint Dea) is in development, and we are looking for potential merchants for beta testing.
🌍 Participation in GITEX Dubai
In October, Epoint will take part in GITEX Dubai, the largest technology event in the MENA region. It will be a great opportunity to build new connections and further strengthen the company's position in the region.
💼 Investment round
Epoint has successfully raised €100K in convertible debt from the Startup Wise Guys (SWG) Challenger II fund. Negotiations are underway to raise the remaining $400K of the round, which is expected to close by December 2024. Closing this round will provide an 18-month runway, including expansion into Georgia, and will increase the marketing and sales budget. Funds will also be invested in expanding server and operational capacity.
These achievements will open a new chapter of growth for Epoint on its way to becoming the largest payment company in the Caucasus and Central Asia!
