Uzbekistan’s largest digital ecosystem, Uzum, has secured 300 billion UZS (around $25 million) in new funding from the U.S.-based investment firm VR Capital. This fresh capital marks another significant milestone in the company’s rapid scaling strategy within fintech and digital financial services.
This is Uzum’s second major fundraising event in 2025. Earlier in August, the company attracted $70 million from Tencent Holdings — the Chinese tech giant behind WeChat — and VR Capital. That round valued the ecosystem at approximately $1.5 billion, positioning Uzum as one of the most valuable tech platforms in Central Asia.
Fintech as the next growth engine
Uzum plans to direct the newly raised funds toward strengthening and expanding its fintech vertical. The investment will support:
- the rollout of advanced digital banking solutions,
- modernization of the payment infrastructure,
- fast-tracked development of consumer lending products.
According to the company, fintech remains one of its strongest growth drivers, enabling deeper user engagement across shopping, payments, and financial services.
Founder’s perspective
Commenting on the new round, Jasur Jumaev, Founder and CEO of Uzum, emphasized the strategic importance of the deal:
“This investment will accelerate the growth of our digital banking, payments, and credit products — strengthening not only the Uzum ecosystem but also the digital modernization of the national economy. We consider it especially important that the funding is provided in local currency, underscoring the growing role of the Uzbek sum in international settlements and corporate financing.”
The company highlights that Uzum continues to scale what it calls Uzbekistan’s largest digital platform, integrating e-commerce, digital and traditional banking, and fintech services into one unified ecosystem. User penetration also remains high, with the total audience now surpassing 20 million individuals.
International ambitions: Eurobonds and IPO
Looking ahead, Uzum is preparing for several major external financing steps:
- The company plans to enter the international debt market in the first half of 2026 with a debut $300 million Eurobond issuance.
- In 2027, Uzum intends to pursue an international IPO, with potential listings on Nasdaq (USA), Abu Dhabi, Hong Kong, or London exchanges.
According to Uzum, choosing foreign exchanges is driven by “liquidity considerations and access to a broader investor base.” Earlier reports also indicated that the company is preparing a second domestic bond issuance worth 400 billion UZS, reflecting sustained investor interest in the fintech-driven expansion of Uzbekistan’s digital economy.
