Uzum: UzbekistanS Emerging Tech Giant Connecting East and West

Amidst increasing global geopolitical tensions, Uzbekistan is carving out a distinctive role as a hub of technological innovation. At the forefront of this transformation is Uzum, the nation’s leading tech enterprise, which recently secured $65.5 million in new investment. This funding round was spearheaded by China’s Tencent alongside VR Capital from New York and London,with additional support from U.S.-based FinSight Ventures.

A Unicorn on the Rise with Soaring Valuation

This latest capital injection has propelled Uzum’s valuation to approximately $1.5 billion-a ample 30% increase from it’s initial unicorn status valuation of $1.16 billion achieved in March last year.

Transforming From Marketplace to Extensive Digital Platform

As launching in 2022, Uzum has rapidly expanded beyond its original e-commerce marketplace model. Beginning with Uzum market, it swiftly branched into fintech by introducing a debit card product and later rolled out Uzum Tezkor, an express food delivery service designed to meet the demands of fast-paced urban consumers.

The platform now boasts over 17 million monthly active users-nearly half of Uzbekistan’s adult population or about two-thirds of all smartphone owners nationwide-and supports more than 16,000 merchants across diverse industries.

Remarkable Growth Indicators Bolster Investor Trust

• $250 million GMV: In just the first half of 2025, Uzum achieved a gross merchandise value (GMV) totaling $250 million-a remarkable year-over-year growth rate near 50%.
• Booming Digital Banking: Since launching in August last year, Uzum Bank’s co-branded Visa debit card-with pre-approved credit limits-has issued over two million cards and aims to surpass five million by year-end.
• lending Portfolio Expansion: The company’s unsecured lending volume reached $200 million during Q1 alone-tripling compared to Q1 last year.
• $150 Million Net Income: For fiscal year 2024, Uzum reported net income growth at 50%, highlighting profitability alongside rapid scaling efforts.

The Driving Forces Behind Uzum’s rapid ascent: Local Expertise Meets Global Standards

The company attributes much of its success to an intimate understanding of uzbek consumer behavior combined with disciplined operational execution. By merging indigenous market knowledge with cutting-edge technology typically seen at international firms, Uzum has engineered scalable solutions tailored for emerging markets like Uzbekistan.

“Our ability to integrate local insights with world-class operational excellence allows us enduring yet swift expansion,” stated CEO Djasur Djumaev in a recent discussion.

A Solid logistics Backbone Engineered for Scale

an early focus on logistics infrastructure led Uzum to develop over 112,000 square meters (around 1.21 million square feet) dedicated warehouse space capable of processing upwards of 200,000 daily orders efficiently across Uzbekistan’s varied terrain.

The company operates an extensive network exceeding 1,500 pickup points spread throughout more than 450 cities and rural areas nationwide; these hubs not only enable next-day deliveries but also function as distribution centers issuing banking cards directly within communities frequently enough underserved by traditional financial services providers.

Diverse Fulfillment Strategies Boost Efficiency & Expand Product Selection

Evolving beyond its initial operator-fulfilled e-commerce delivery model,Uzums’ fulfillment approach now integrates seller-fulfilled shipments accounting for roughly one-quarter to one-third (20-30%)of total deliveries-enhancing versatility while broadening available stock keeping units (SKUs).

• The SKU count surged dramatically-from approximately600 thousand items during their early-2024 funding proclamation-to over one-and-a-halfmillion today-substantially enriching customer choice within their next-day delivery promise spanning groceries,electronics,and household essentials alike.

Tencent Collaboration Highlights Strategic Momentum & Vision  

Nikolay Seleznev,Uzum’s chief strategy officer,revealed that Tencent was attracted after months-long evaluations confirmed consistent strong performance metrics.This alliance reflects confidence from oneof Asia’s largest technology conglomeratesinUzums potential as a regional bridge connecting Easternand Western markets alike.

A Progressive Roadmap Centered on Financial Innovation & Geographic Growth  

• This September,several new fintech products will launch including deposit accountsand long-term credit offerings tailoredfor retail customers seeking maturities beyond12 months.
• An expanded merchant network will benefitfrom upgraded QR code payment systems,enabling seamless transactionsacross small businesses countrywide.
• The Visa debit card programwill continue aggressive scalingwhile new SME-focused tools are under developmentto stimulate local entrepreneurship.
• E-commerce enhancementsaimto introduce value-added services suchas advertising platforms generatingadditional revenue streamsfor both merchantsandUzums ecosystem itself.
• An international expansion initiativeis underwaywith plans toestablish cross-border trade channels beginningwithChinaand Turkey expectedtocontribute10-15%of total activityby late2025.