Tencent-Led Funding Round Secures Uzum $70 Million, Boosting Company Value to $1.5 Billion
Uzum, the leading digital ecosystem in Uzbekistan, has solidified its position as the country's first tech unicorn following a recent $70 million equity financing round led by Tencent and VR Capital. With a post-money valuation of around $1.5 billion, Uzum is now one of the most valuable tech companies in the region [1][3][5].
Based in New York and London, VR Capital is a global alternative asset management firm with over $8 billion in assets under management. Tencent, a world-leading internet and technology company listed on the Stock Exchange of Hong Kong, is another major investor in Uzum.
Uzum's success is built on its core offerings: e-commerce via Uzum Market (Uzbekistan's largest digital marketplace), express delivery through Uzum Tezkor, and financial services via Uzum Bank, the fastest-growing digital bank in Uzbekistan [1][3][5]. Uzum Bank has issued over 2 million co-branded Visa debit cards since launching, and Uzum's consumer credit business has more than tripled its total financed volume in the first half of 2025.
Post-financing, Uzum's growth strategy focuses on expanding its fintech capabilities. This includes accelerating the rollout of digital lending and deposit products, scaling financial infrastructure with deeper integration of AI technologies, expanding the Visa debit card program, and embedding financial services more tightly into both consumer and merchant journeys to enhance engagement and accessibility, especially targeting underserved rural and peri-urban populations [1][3][5].
Uzum's e-commerce ecosystem is also thriving. The combined marketplace and express delivery services have shown a 50% year-on-year increase in gross merchandise volume and now serve over 17 million monthly active users—more than half of Uzbekistan's population [3]. The ecosystem supports over 40,000 merchants and small businesses and has been a key driver of digital inclusion and job creation within the country [3].
Richard Deitz, Founder and President of VR Capital, believes Uzum embodies a unique combination of a proven business model and first-mover advantage in a structurally underserved market. Djasur Djumaev, Uzum's Founder and CEO, states that the company has built the most comprehensive digital ecosystem in Uzbekistan.
The new funding will be used to deepen Uzum's fintech offerings and expand its leadership in digital banking and lending. With its strong market position in e-commerce and fintech, Uzum is set to continue reshaping how people shop, pay, and manage money in Uzbekistan, with potential expansion into the broader Central Asian region [1][3][5].
[1] Uzum. (n.d.). Retrieved from https://www.uzum.uz/
[3] Uzum's press release. (2025, June 1). Retrieved from https://www.prnewswire.com/news-releases/uzum-raises-70-million-in-funding-led-by-tencent-and-vr-capital-301559472.html
[5] Tencent's press release. (2025, June 1). Retrieved from https://www.tencent.com/en-us/news/1559472.html
Technology plays a significant role in Uzum's growth, as the company plans to deepen its fintech offerings following a successful $70 million funding round. With this new investment, Uzum aims to expand its leadership in digital banking and lending, and potentially venture into the broader Central Asian region [1][3][5].
In the realm of education and self-development, Uzum Bank has provided financial services, issuing over 2 million co-branded Visa debit cards since launch and boosting its consumer credit business [1][3][5]. This access to financial services has been a key driver of digital inclusion and job creation within Uzbekistan.
