Uzbekistan’s Uzum valuation leaps over 50% in seven months to $2.3B

Uzbekistan fintech Uzum has achieved a $2.3 billion valuation, a 53% increase in seven months, backed by a $131.5 million investment led by Oman’s sovereign fund. The company, which has become a leader in Uzbekistan's digital economy, plans a $250-$300 million pre-IPO raise by 2026. With 20 million users, a focus on integrated e-commerce and banking services, and rapid growth, Uzum shapes the future of digital commerce in Central Asia.

Key Points

• Uzum's valuation increased by 53% to $2.3 billion due to a $131.5 million investment led by Oman's sovereign wealth fund.
• The startup plans a pre-IPO raise of $250-300 million by the end of 2026 or early 2027.
• Uzum became Uzbekistan's first unicorn in March 2024 and reported 20 million users, over half of the adult population.
• Revenue rose to $691 million in 2025, with a net income of $176 million, showing growth alongside its digital ecosystem.
• Uzum expanded its services to include e-commerce, digital banking, and logistics, supporting increased user engagement and transaction volume.
• The company operates around 1,500 pickup points and plans to double this for better logistics and customer experience.

Relevance

• Uzbekistan's digital economy is among the fastest-growing in Central Asia, driven by a young population and increasing smartphone adoption.
• The trend reflects a broader shift towards digital commerce across other emerging markets as traditional retail models evolve.
• Uzum's growth aligns with global trends focusing on integrated fintech solutions and e-commerce platforms, crucial for market expansion.

Uzum's rapid valuation growth and commitment to building a comprehensive digital ecosystem highlight the transformative potential of fintech and e-commerce in Uzbekistan, positioning it as a key player in Central Asia's digital future.