Uzbekistan-based fintech company Uzum has experienced significant growth, reaching a valuation of $2.3 billion, a 53% increase from just seven months ago. This surge in valuation is attributed to a $131.5 million investment led by sovereign wealth funds from Oman, along with participation from existing investors such as Tencent, VR Capital, and FinSight Ventures. The funding round consists of $81.5 million in equity and $50 million in convertible financing tied to Uzum’s next funding round, with plans to raise $250 million to $300 million in a pre-IPO round in the second half of 2026 or early 2027.
Uzum, which became Uzbekistan’s first unicorn in March 2024, has positioned itself as a key player in the country’s emerging digital economy. With a young population, rapid smartphone adoption, and low penetration of online retail and banking services, Uzbekistan is witnessing significant growth in its digital sector. Founded in 2022, Uzum has evolved into the country’s leading digital ecosystem, offering e-commerce, payments, and consumer lending services.
The company’s ecosystem includes Uzum Market, an e-commerce marketplace, Uzum Bank, a digital banking arm, and Uzum Nasiya, a consumer lending platform. Additionally, Uzum operates Uzum Tezkor, an express food delivery service, as part of its integrated approach to commerce, payments, and banking. With over 20 million users, connecting 17,000 local sellers, and processing $11 billion in payment volume in 2025, Uzum has established a strong presence in the market.
CEO Djasur Djumaev envisions e-commerce transforming Uzbekistan’s retail sector, leapfrogging traditional retail models and transitioning directly into digital commerce. The company’s financial performance has mirrored its ecosystem’s growth, with revenue reaching $691 million in 2025 and net income rising to $176 million. Notably, Uzum’s fintech operations have been a primary driver of profitability, serving around 5 million customers through its digital bank and issuing 4.1 million debit cards in 2025.
Uzum’s expansion into cross-border commerce has added nearly 200 million SKUs from international markets, enhancing its product offerings for Uzbek consumers. To support this growth, the company has invested in logistics infrastructure, operating 1,500 pickup points nationwide and planning to expand to 3,000 locations by 2026. With plans to go public in the next few years and expand its fintech infrastructure, Uzum aims to deepen its product offerings in both commerce and financial services.
As Uzum continues to expand its operations in Uzbekistan, employing around 12,500 people, the company remains focused on building a fully integrated digital banking platform and positioning itself for a global investor base through potential listings on various exchanges worldwide.
