Uzum, Uzbekistan’s leading digital ecosystem, completed a new funding round of more than $130 million, implying a pre-money valuation of $2.3 billion. The raise, highlighted in a LinkedIn post and publicly congratulated by the London Stock Exchange, is being framed as a milestone for both the company and Uzbekistan’s wider tech market.
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The round was led by sovereign investors from Oman alongside existing backers VR Capital, Tencent, and FinSight Ventures, signaling sustained international confidence. Uzum plans to deploy the fresh capital into its e-commerce, digital banking, and payments operations, prioritizing technology upgrades and logistics expansion.
Uzum’s ecosystem spans Uzum Market, Uzum Bank, Uzum Nasiya, and delivery service Uzum Tezkor, collectively reaching about 20 million users, more than half of Uzbekistan’s adult population. Operational metrics show strong momentum, with payment volumes of roughly $11 billion in 2025 and 4.6 million annual transacting users.
Revenue climbed to $691 million in 2025 from $505 million in 2024, while net income increased to $176 million from $150 million, and the marketplace unit achieved EBITDA profitability within three years. Fintech remains the core earnings driver, as Uzum Bank served around 5 million customers and issued 4.1 million debit cards, roughly half of all cards nationwide.
The unsecured loan portfolio reached about $400 million, with total credit volume at $1.2 billion, underscoring Uzum’s growing role in consumer finance. Management aims to add another 5 million banking customers over the next year, though successfully deploying new capital will be key to sustaining growth at the current valuation.
To deepen its commerce offering, Uzum is opening cross-border access for sellers from markets such as Turkey and China, adding nearly 200 million SKUs to its existing base of about 1.5 million local products. The company plans to double pickup points from roughly 1,500 to 3,000 by 2026 and expand warehouse capacity from 125,000 to around 500,000 square meters.
On the talent side, Uzum signed a memorandum with Turin Polytechnic University in Tashkent to promote joint IT and education initiatives, including internships and support for student startups. The company also emphasized inclusive entrepreneurship, noting that more than one-third of Uzum Market sellers are women and outlining training partnerships with the Hamroh project and UNDP.
Cultural engagement, including Navruz and Ramadan greetings in multiple languages, supported brand visibility and local resonance, even if not financially material. Overall, the combination of fresh capital, strong operating metrics, and expanding ecosystem positions Uzum for continued growth, while also raising execution demands to justify its multi-billion-dollar valuation.