Uzum $1.5B valuation reflects Uzbekistan’s rising tech influence
Uzbekistan is entering the global tech spotlight thanks to Uzum, its first unicorn startup, which now boasts a staggering $1.5 billion valuation. After raising $65.5 million in a recent equity funding round, the Tashkent-based company has become a powerful symbol of Central Asia’s potential in digital innovation. The success of Uzum answers a growing number of search queries like "How did Uzum become Uzbekistan’s first unicorn?" or "What’s driving Uzum’s $1.5B valuation?" Within just three years of its 2022 founding, Uzum has built a thriving multi-sector ecosystem — combining e-commerce, digital banking, and fintech — that serves almost half the country's adult population.
Image Credits:Uzum
How Uzum built a $1.5B valuation through e-commerce and fintech
Uzum’s initial success came through its online marketplace, Uzum Market, which swiftly gained traction by solving logistical challenges unique to Uzbekistan. That strong entry gave the startup enough momentum to expand into financial services. Uzum Bank’s rapid deployment of Visa debit cards, many pre-approved with credit limits, filled a gap in a country where access to traditional credit has been limited. As of mid-2025, the startup boasts more than 2 million cards issued — with an ambitious goal to surpass 5 million by year-end. Its unsecured lending product reached $200 million in financed volume in Q1 2025 alone, showing strong demand for consumer credit. By fusing commerce and financial services, Uzum created a stickier, all-in-one platform that consumers trust.
Why investors are backing Uzum’s rapid growth
The Uzum $1.5B valuation has attracted global attention, thanks to participation from major investors across Asia, Europe, and the U.S. Unlike many startups that grow on hype, Uzum’s appeal lies in its financial discipline and impressive metrics. The company achieved $150 million in net income in 2024 — up 50% year-over-year — while also growing its gross merchandise value to $250 million in just six months. Its monthly active user base exceeds 17 million, covering around two-thirds of smartphone users in Uzbekistan. With 16,000 merchants using the platform, Uzum has become the go-to digital partner for both consumers and sellers. Investors are drawn to this rare mix of profitability, scale, and market dominance, especially in a region often overlooked by venture capital.
Local expertise and execution drive Uzum’s success story
What sets Uzum apart is its founder-led strategy rooted in deep local understanding. CEO Djasur Djumaev emphasizes that knowing Uzbekistan’s cultural and economic landscape has been essential to their ability to scale. The company didn’t just copy Western startup models—it localized them to fit consumer behavior and infrastructure realities on the ground. From logistics in e-commerce to risk modeling in lending, Uzum has built systems specifically tailored to Uzbekistan’s needs. This strategy, combined with operational excellence and a scalable tech backbone, has allowed Uzum to expand its footprint rapidly without losing control over quality or customer satisfaction. With a strong product mix and clear vision, Uzum appears poised to maintain its growth trajectory well beyond its $1.5B valuation.
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