Inbizzy, Tashkent, Uzbekistan – Uzum, Uzbekistan’s leading digital platform, has announced the successful acquisition of nearly $70 million in equity funding led by two prominent global investors: Tencent and VR Capital, with continued participation from FinSight Ventures. This latest funding round propels Uzum’s valuation to approximately $1.5 billion, reflecting the company’s rapid growth in the Central Asian fintech and e-commerce sectors.
In an official statement, Djumaev emphasized that Uzum’s integrated approach to financial services and digital commerce is the foundation of their success. He believes that the involvement of world-class global investors not only provides a capital boost but also validates their unique, consumer-oriented business model. With this new funding, Djumaev stated Uzum’s readiness to expand its service reach and continue leading the digital transformation in Uzbekistan.
“Today, we are changing the way the people of Uzbekistan shop, pay, and manage their finances. The support from Tencent and VR Capital is a testament to the confidence in our strategy of building an integrated digital ecosystem.”
Exponential Fintech Growth
Deitz highlighted the strategic value of Uzum’s presence in a developing market like Uzbekistan, where many digital needs are still underserved. According to him, Uzum has successfully executed a sustainable growth strategy with a solid management team and a convincing operational track record. He sees this investment not only as a business opportunity but also as a contribution to the digitalization of the economy in Central Asia.
“Uzum has a strong business model with the advantage of being a pioneer in a market that has not been widely reached. We are proud to be part of their growth.”
Uzum Bank, Uzum’s digital banking unit, has recorded remarkable growth and now holds the position as the fastest-growing digital bank in Uzbekistan. In less than a year since the launch of its flagship product in August 2024, Uzum Bank has issued more than 2 million co-branded Visa debit cards with embedded credit limit features—becoming a pioneer in integrating debit and credit functions into a single payment instrument in the country.
This model provides users with the flexibility to transact without having to access conventional credit lines or lengthy application processes, making it an inclusive solution in the midst of Uzbekistan’s developing financial ecosystem. This innovation also supports broader financial inclusion, especially for segments of society that previously did not have access to formal banking services.
In addition, Uzum’s consumer credit business line has shown outstanding performance driven by its market-leading BNPL (Buy Now, Pay Later) service. Throughout the first half of 2025, the volume of financing disbursed through Uzum’s BNPL service increased more than threefold compared to the same period last year. This demonstrates a surge in demand for micro and flexible financing, as well as increasing public trust in digital-based payment systems.
This growth is also in line with the increasing number of trading partners and merchants connected to the Uzum network, who are leveraging payment and financing solutions to drive sales and customer retention. With an integrated technology architecture, Uzum is able to deliver financial services that are fast, easily accessible, and relevant to the needs of today’s digital consumers in Uzbekistan.
Overall, Uzum’s fintech expansion reinforces the company’s role as a major driver of Uzbekistan’s digital economic transformation, opening up new opportunities in the financial, consumption, and digital commerce sectors nationally.
National E-Commerce Expansion
Uzum’s e-commerce ecosystem, which consists of Uzum Market (the largest marketplace in Uzbekistan) and Uzum Tezkor (express delivery service), recorded a gross merchandise value (GMV) growth of approximately 1.5 times year-on-year in H1 2025. Uzum remains the only platform that integrates digital commerce and financial services on a national scale.
Garyunov conveyed that since FinSight’s initial investment last year, Uzum has recorded significant achievements in various aspects, ranging from user growth, new service launches, to increased monetization. He underlined how the combination of financial services and trading platforms creates a mutually reinforcing ecosystem, resulting in positive economic units and lowering default rates. For FinSight, this reflects the characteristics of a successful super-app, and is the main reason for increasing their investment commitment in this latest round.
“Uzum has shown remarkable progress in a short time. The synergy between its fintech and e-commerce creates strong customer efficiency and loyalty.“
