The key facts
- FurtherIT (Paynet) invested 17.2 billion soums for 33.14% of GoInvest and then raised its stake to 51% through a 6 billion soum increase in the authorized capital
- The founders retain 49%: Kap Depo (21.25%), Farrukh Khodjaev (15.49%), Bakhrom Abdukadirov (7.35%), Jasurbek Urolboev (4.9%)
- Plans: integration into the Paynet ecosystem, remote brokerage services and access to the US stock market
A two-stage deal
In August, FurtherIT — a subsidiary of Paynet — invested 17.2 billion soums in the digital investment platform GoInvest and received 33.14% of the company. It was a secondary transaction: the money went to the selling participants. In September the deal was completed: the Paynet subsidiary's stake rose to 51% and it gained control of GoInvest. This is reported by Spot.uz citing an interview with Kap Depo founder and director Farrukh Khodjaev.
Who kept their stakes and what the second stage brought
The remaining 49% is distributed between the investment company Kap Depo (21.25%) and three individuals: Farrukh Khodjaev (15.49%), Bakhrom Abdukadirov (7.35%) and Jasurbek Urolboev (4.9%). The second stage of the deal is not a buyout of shares but an increase in the authorized capital: FurtherIT will contribute another 6 billion soums to GoInvest for an additional 17.86% stake, and this money will go directly into the company — for product development, integration, the team, marketing and scaling. The parties agreed not to disclose GoInvest's valuation; Khodjaev noted that the company had no institutional valuation in 2024.
What GoInvest is and why Paynet
GoInvest was registered in May 2024, and in August 2026 it received an investment intermediary license. Through the platform, users carry out transactions with securities on Uzbekistan's capital market: the company currently has more than 100,000 users, over 5,000 transactions per day, and trading volume exceeds 1 billion soums. According to Khodjaev, in 2026 three strategic buyers approached him and a venture fund showed interest; Paynet was chosen because the next leap required a partner with a customer base, payment infrastructure and experience scaling mass financial services, not just money. He emphasized that the deal is not an exit for him: he remains a shareholder, and his role will shift toward product strategy, the capital market and partnerships.
How the product was built
The idea emerged in 2022, when Kap Depo was operating as a classic broker and saw the barrier between an ordinary person and the stock market. The impetus was the URTSB 'people's IPO': thousands of new investors had no convenient digital channel for subsequent purchases. The technological part of the project was led by Jasurbek Urolboev, who received a 10% stake as a partner; Muzaffar Rozikov, a former Kap Depo investment banker, took over project management, while Bakhrom Abdukadirov joined as a business angel. The team deliberately rejected a white-label solution so as not to depend on someone else's architecture, and built the platform itself: according to Khodjaev, GoInvest is a 100% Uzbek in-house development. At the start, the project was financed exclusively by Kap Depo.
Plans: the Paynet ecosystem and the US market
The parties plan to integrate GoInvest services into the Paynet ecosystem, develop remote brokerage services, top-ups of brokerage accounts via Paynet e-wallets and mobile apps, as well as financial literacy courses for beginner investors. A separate stage should be access to international markets, primarily the US stock market — according to Khodjaev, there is demand in Uzbekistan for Apple, Microsoft, Tesla and Nvidia shares, but it remains unmet due to the difficulty of legally entering a foreign market. He noted that this requires a clear legal model, reliable asset custody and compliance with currency and tax legislation; no timelines are given in the publication, so these remain stated plans rather than adopted decisions.
