Dubai-based Commercial Bank International (CBI) has announced an investment in Tajik fintech startup zypl.ai, which applies AI algorithms in lending.

CBI began working with zypl.ai in the summer of 2023 within the framework of testing of software for automatic loan issuance. In the fall of 2023, CBI started commercial implementation of the solution with enhanced functionality.

CBI was the lead investor in the latest round of zypl.ai which raised $1.2 million from a group of investors from the UAE, the US, Luxembourg and Kazakhstan at a valuation of $25 million.

Earlier, zypl.ai raised $2 million from Tumar Venture Fund (a joint fund of the World Bank and the government of Kazakhstan), European fund Presto Ventures, American fund Battery Road Digital Holdings, Jordan Ahli Bank (Jordan) and Alokabank (Uzbekistan).

CBI’s major shareholder is Qatar National Bank (QNB). Commercial Bank International’s loan portfolio in the UAE market amounts to $3.3 billion.

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