Uzbekistan's leading digital ecosystem Uzum has seen its valuation leap to $2.3 billion, marking a 1.5x increase from $1.5 billion just seven months ago.
This milestone follows a $131.5 million funding round led by Omani sovereign wealth funds, with participation from Tencent, VR Capital, and FinSight Ventures.
Uzum's Meteoric Rise from Startup to Regional Powerhouse
Founded in 2022, Uzum quickly became Uzbekistan's first unicorn in March 2024, transforming from an e-commerce marketplace into a full-fledged super app.
The company now integrates Uzum Market for shopping, Uzum Bank for digital banking, Uzum Nasiya for consumer lending, and Uzum Tezkor for express delivery.
With over 20 million users—reaching more than half of Uzbekistan's adult population—Uzum boasts 17 million monthly active users and 4.6 million annual transacting customers.
In 2025, it processed $11 billion in payment volume, generated $500 million in marketplace gross merchandise value, and issued 4.1 million debit cards, half of all those in the country.
Driving Uzbekistan's Digital Economy Boom
Uzum's fintech arm, including a $400 million unsecured loan book, propelled revenues to $691 million last year, with net income rising to $176 million.
The e-commerce segment achieved EBITDA profitability after three years, while logistics expansions include 1,500 pickup points growing to 3,000 by 2026 and warehouse space tripling to 500,000 square meters.
Cross-border commerce now offers 200 million products from Turkey and China alongside 1.5 million local SKUs, supporting 17,000 sellers and 12,500 employees.
Looking ahead, Uzum plans to add five million more banking customers, deploy ATMs and POS systems, and pursue a $250-300 million pre-IPO raise targeting a listing in three years.
CEO Djasur Djumaev envisions e-commerce leapfrogging traditional bazaars to digitize Uzbekistan's retail landscape entirely.
This growth underscores Central Asia's emerging digital potential, attracting global capital and positioning Uzum as a fintech leader with broad regional impact.
Maria Lourdes
