Central Asia Capital paid 500 million KGS in taxes

Central Asia Capital, a private equity fund, has marked seven years of operations in Kyrgyzstan. Since 2018, the fund's portfolio companies have paid a total of 511M KGS in taxes and mandatory contributions to the state budget, comparable to the cost of building several hospitals or schools.

The fund's current portfolio includes:

• Central Asia Kicksharing, a holding company

• Express Auto, a vehicle maintenance service

• Taxi Express, a taxi fleet operator

• Автомаркет, a vehicle marketplace

• Banca, a crowdlending platform

• Lie Detection Center

• Бериденьги, a non-bank financial service

• leasing.express, a leasing company

• Muras, a vehicle manufacturer

• Central Asia Hub, an industrial park

• Bars, a super app and national messenger

At the end of 2025, leasing.express ranked among the top 500 largest companies in Kyrgyzstan on the Tazabek rating as one of the country's fastest-growing companies. The State Tax Service of the Kyrgyz Republic recognized leasing.express with a letter of gratitude for its contribution to the country's economic development.

The development of crowdlending in Kyrgyzstan

The fund's fintech asset is Banca, the only crowdlending platform in the Kyrgyz market.

Crowdlending is a fintech mechanism for direct business financing: investors deploy capital directly into companies, bypassing banks, and earn interest income. Banca operates as an intermediary, matching companies seeking capital with private investors willing to lend at interest. For entrepreneurs, this provides an alternative to bank credit, without collateral requirements or lengthy application processes.

Since launch, Banca has financed more than 10 companies, supporting the creation of over 500 direct and 1 000 indirect jobs in Kyrgyzstan. Investors on the platform have earned more than 1bn KGS in interest income.

The platform operates under Articles 724-727 of the Civil Code of the Kyrgyz Republic. Audits by the National Bank of the Kyrgyz Republic and the Ministry of Internal Affairs in 2023, and by the State Committee for National Security and the State Tax Service in 2024, found no violations, confirming the transparency of the platform's operations.

Integrating international best practice

Russia has already undergone this institutionalization process. Its first crowdlending platforms initially operated under Civil Code provisions, before a dedicated law was passed in 2019. Today, the Bank of Russia's registry lists more than 102 platforms; cumulative financing raised over six years exceeds 130bn RUB, and the investor base has reached 226 000. Average investor returns on Russian platforms range from 23% to 27% per year, with sector leaders including JetLend, VDelo, and Potok.

Kyrgyzstan is pursuing a similar path. Crowdlending and crowdinvesting have been incorporated into the Cabinet of Ministers' SME Support and Development Program through 2030 (Resolution No. 448, dated June 29, 2026). Together with the International Finance Corporation (IFC), Central Asia Capital is participating in drafting crowdlending legislation, with initiation planned for autumn 2026.