Investment giant Tencent leads Uzum in securing $70 million, boosting the company's valuation to a stellar $1.5 billion.
Uzum Raises $70 Million, Becomes Central Asia's First Tech Unicorn
Uzbekistan's leading digital ecosystem, Uzum, has secured a significant milestone in its growth journey. With a recent $70 million equity financing round led by Tencent and VR Capital, Uzum has become Central Asia's first tech unicorn, boasting a post-money valuation of approximately $1.5 billion [1][3][5].
Uzum's platform, installed on about 60% of local smartphones and boasting over 17 million monthly active users—more than half of Uzbekistan's population—has integrated e-commerce (Uzum Market), express delivery (Uzum Tezkor), and banking/financial services (Uzum Bank) [1][2]. This comprehensive digital ecosystem serves over 40,000 merchants and has created more than 12,000 jobs [2][3].
The company's rapid growth is evident in its financials. Uzum's gross merchandise value has seen a 50% year-on-year increase, confirming its leading position in Uzbekistan's digital marketplace [2]. Uzum's consumer credit business has more than tripled its total financed volume in H1 2025, while its digital banking unit, Uzum Bank, is the fastest-growing bank in Uzbekistan [1][3].
Uzum's strategic plans for the future include deepening its FinTech infrastructure, enhancing AI-driven credit scoring and fraud prevention, expanding lending and deposit offerings, and embedding financial services into consumer and merchant journeys to improve access and personalization, especially targeting underserved rural and peri-urban populations [2][3]. The company also aims to scale its digital banking services, including expanding its Visa debit card program, which has already issued over 2 million cards in the first half of 2025 [3][4].
Tencent's strategic investment signals significant confidence in Uzum as a gateway to Central Asia's underbanked market, aligning with broader digitalization and regional development initiatives under China’s Belt and Road Initiative [4]. Djasur Djumaev, Founder and CEO of Uzum, is proud to be working with tier-1 global investors who share the company's vision [2][5].
Richard Deitz, Founder and President of VR Capital, expresses admiration for Uzum's unique business model and first-mover advantage in an underserved market [1]. VR Capital, which operates via its principal offices in New York and London and has over $8 billion in assets under management, has invested in Uzum [1]. Alexey Garyunov, Managing Partner at FinSight Ventures, believes Uzum represents one of the most compelling fintech and e-commerce growth stories in Central Asia [1].
The synergy across Uzum's diverse verticals has improved unit economics, reduced delinquency, and increased customer satisfaction and retention [1]. Uzum plans to integrate financial services directly within the country's largest e-commerce infrastructure, further solidifying its market position [1]. With this new round of funding, Uzum is poised to deepen its fintech offerings and expand its leadership in digital banking and lending.
Investing in Uzum's growing digital business, Tencent and VR Capital are confident that Uzum's unique fintech infrastructure and integrated services, including e-commerce, express delivery, and banking, will enable it to capitalize on Central Asia's untapped potential in technology-driven business. With this funding, Uzum aims to deepen its FinTech offerings, expand its digital banking services, and improve financial access and personalization for rural and peri-urban populations, boosting its position as a leading player in Central Asia's digital marketplace.
