Fundraising Success for Uzum: Achieves $1.5B Valuation in Round Led by Tencent with $70M Investment
Uzum, the pioneering digital ecosystem in Uzbekistan, has secured nearly $70 million in equity financing from prominent investors, including Tencent, VR Capital, and FinSight Ventures. This significant investment boosts Uzum's post-money valuation to approximately $1.5 billion, reflecting strong operational and financial growth in both its fintech and e-commerce segments.
Uzum's Dominant Market Position
With over 17 million monthly active users, accounting for around half the adult population and two-thirds of smartphone users in Uzbekistan, Uzum commands a dominant market position. The platform also hosts 16,000 merchants, making it a formidable force in the country's digital economy.
Robust E-commerce Growth
Uzum's e-commerce arm, including Uzum Market and Uzum Tezkor delivery service, recorded a gross merchandise value (GMV) of $250 million in the first half of 2025, marking a 1.5x increase year-over-year. This growth underscores the platform's popularity and its ability to cater to the growing demands of consumers and merchants alike.
Expanding Fintech Offerings
Uzum Bank, the digital banking unit of Uzum, has issued over 2 million co-branded Visa debit cards with pre-approved credit limits since August 2024, aiming to issue 5 million by year-end. The consumer credit business, particularly Buy Now, Pay Later (BNPL), has more than tripled financed volume in early 2025, reaching $200 million in Q1.
The funding will enable Uzum to deepen its fintech offerings and expand its leadership in digital banking and lending. Key initiatives include broadening digital lending and deposit products, scaling the Visa debit card program, and enhancing its financial infrastructure with AI technology embedded in credit scoring, fraud prevention, and personalized user experiences.
Investor Confidence
Alexey Garyunov, Managing Partner at FinSight Ventures, believes Uzum represents one of the most compelling fintech and e-commerce growth stories in Central Asia. Richard Deitz, Founder and President of VR Capital, expresses admiration for Uzum's unique combination of a proven business model and first-mover advantage in an underserved market.
This new round of funding is a testament to Uzum's strategy and vision, as shared by tier-1 global investors. The proceeds from this round will be used to accelerate the buildout of Uzum's proprietary fintech infrastructure, broaden its product suite, and cement its leadership across key verticals.
For more information about Uzum, visit uzum.com/en/.
- The significant investment in Uzum, bolstered by Tencent, VR Capital, and FinSight Ventures, aims to facilitate Uzum's expansion in both its fintech and e-commerce segments, with a focus on deepening its fintech offerings, leveraging technology for enhanced digital banking and lending services.
- Uzum's lifestyle platform, with over 17 million monthly active users and a dominant market position, is set to leverage AI technology to enrich its financial infrastructure, offering personalized user experiences, improved credit scoring, and advanced fraud prevention.
