Uzum, Uzbekistan’s leading digital ecosystem, has raised nearly $70 million in equity financing from Tencent, VR Capital, and FinSight Ventures, a U.S. fund focused on AI, fintech, and super-app investments. This funding has increased Uzum’s post-money valuation to approximately $1.5 billion, reflecting strong operational and financial growth.
- Fintech Momentum: Uzum Bank, the fastest-growing bank in the country, has issued over 2 million co-branded Visa debit cards with pre-approved credit limits since August 2024. Its consumer credit business, bolstered by a leading Buy Now, Pay Later (BNPL) offering, has more than tripled its financed volume in the first half of 2025.
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E-commerce Engine: The e-commerce segment, powered by Uzum Market and Uzum Tezkor, saw a year-over-year gross merchandise value (GMV) increase of about 1.5 times in the first half of this year. Uzum is the only vertically integrated platform that combines commerce and financial services nationally.
How the funding will be used: The recent investment will help accelerate the development of Uzum’s fintech infrastructure, expand its product suite, and strengthen its leadership in Uzbekistan’s growing digital economy.
KEY QUOTES:
“Uzum embodies a unique confluence of a proven business model and first-mover advantage in a structurally underserved market. We are deeply impressed by the quality of the team and the remarkable progress the Company has achieved to date. It is our privilege to support Uzum’s continued growth through our investment.”
Richard Deitz, Founder and President, VR Capital
“We believe Uzum represents one of the most compelling fintech and e-commerce growth stories in Central Asia. Since our initial investment last year, the company has achieved remarkable milestones — rapidly expanding its user base, launching new products, and driving monetization. The synergy across its diverse verticals has not only improved unit economics and reduced delinquency, but also lifted customer satisfaction and retention, reflected in a rising NPS and LTV. These dynamics mirror patterns we’ve seen in other breakout super-apps globally, and they’re reinforcing Uzum’s leadership in Uzbekistan’s digital economy. We see enormous untapped potential to layer new services for both consumers and merchants on top of Uzum’s existing platform. That’s exactly why we’re excited to double down in this new round and continue supporting Uzum on its journey.”
Alexey Garyunov, Managing Partner at FinSight Ventures
“In just two years, Uzum has built the most comprehensive digital ecosystem in Uzbekistan. Today, we’re reshaping how people shop, pay, and manage money. This new round of funding empowers us to deepen our fintech offerings and expand our leadership in digital banking and lending. We are delighted to welcome Tencent and VR Capital as new shareholders and proud to be working with tier-1 global investors who share our vision. It’s also a vote of confidence in our strategy to integrate financial services directly within the country’s largest e-commerce infrastructure.”
Djasur Djumaev, Founder and CEO of Uzum
