OLX Group to sell OLX Uzbekistan to a joint venture led by TBC Bank Group

Tashkent, Uzbekistan – August 21, 2025 – OLX Group (“OLX Group”), the classifieds business of Prosus, today announced an agreement to sell 100% of its business in Uzbekistan (“OLX Uzbekistan”, or “OLX UZ”) to a joint venture (JV) led by TBC Bank Group PLC (“TBC PLC”), which operates the leading financial services group in Georgia and one of the largest digital banking ecosystems in Uzbekistan, with participation of Titan Investments, an international investment holding company. The transaction is subject to standard regulatory approvals, and its financial terms are undisclosed.

This strategic transaction aligns with OLX Group’s focus on its core categories and key markets, while positioning OLX Uzbekistan for its next phase of growth. OLX Uzbekistan is recognised as a local market leader, with 5.4 million monthly active users, 2.2 million active listings, and more than 20% of Uzbekistan’s active internet users. It is also recognised as the country’s 6th most-visited website. This transaction ranks among the most significant tech M&A deals in Uzbekistan in the past three decades.

Christian Gisy, CEO of OLX Group, commented: “We are proud of what our team in Uzbekistan has built. OLX Uzbekistan’s achievements and market leadership speak for themselves, and we are confident that under TBC Uzbekistan and Titan Investments’ ownership, the business will continue to thrive. This transaction aligns with our strategy to sharpen our focus on core product categories and geographies, while ensuring the continued success of the businesses in new hands.”

The JV formed for this deal will acquire 100% of OLX Uzbekistan, with TBC Bank Group holding 50% + 1 share and Titan Investments owning the remaining stake. TBC PLC plans to consolidate OLX Uzbekistan into its fast-growing TBC Uzbekistan ecosystem. The JV brings a unique combination of banking, fintech, and classifieds expertise, which will enable the digital platforms to scale both regionally and globally.

OLX Uzbekistan will continue to operate under its established brand. 

Nika Kurdiani, CEO of TBC Uzbekistan, commented: “Our ecosystem counts 21 million unique registered users, reaching over half of Uzbekistan’s population. We continue to grow rapidly, enabling our customers to handle their financial and lifestyle needs through our seamless interface. The acquisition of the country’s leading classifieds platform OLX Uzbekistan is the next logical step in our expansion and diversification strategy, as we add new customers, continue to move into new segments and increase our share of customer attention. This acquisition is set to unlock powerful synergies between our platforms, accelerating our ability to deliver best-in-class digital banking products for existing and new customers. We are proud to partner with Titan Investments for this deal, who are bringing their successful track record of scaling classifieds into the mix. We’re delighted to be able to leverage the OLX potential and accelerate its growth, and aim to fully consolidate this platform into the TBC Uzbekistan ecosystem in the longer term.”

About OLX Group

OLX builds online marketplaces that facilitate trade and enable millions of people worldwide every month to access a broad range of products and services. OLX Group is the classifieds business of Prosus, one of the world’s largest technology investors. 

About TBC Bank Group PLC (“TBC PLC”)
TBC Bank Group PLC (TBC PLC) is a public limited company registered in England and Wales and is the parent company of JSC TBC Bank Georgia and TBC Uzbekistan. TBC operates a mission-driven strategy to simplify lives by offering digitally focused financial solutions. In Uzbekistan, TBC serves 21 million unique registered users through a broad digital ecosystem including TBC Bank Uzbekistan, Payme, Payme Nasiya, and TBC Insurance. TBC PLC is listed on the London Stock Exchange (ticker: TBCG).

About Titan Investments
Titan Investments is an international investment holding company focused on investing in and scaling high-growth digital companies. Backed by institutional investors, family offices and sovereign wealth funds from the Middle East, Titan brings expertise in growing classifieds and digital platforms worldwide.