Uzum, a digital ecosystem based in Uzbekistan, has recently concluded an investment round that surpasses the threshold of USD 130 million. This significant financial influx is spearheaded by sovereign entities from the Sultanate of Oman.

This fundraising round not only includes primary equity but also structured capital contributions, with a pre-money valuation assessed at approximately USD 2.3 billion. The conversion terms are contingent upon the next qualified financing round and represent a substantial progression over previous funding phases, positioning Uzum for an upcoming Series B. Legal support was provided by DLA Piper for Uzum and Greenberg Traurig for the investors.

Scaling the Ecosystem and Strategic Capital Allocation

The funds raised will be utilized to enhance product offerings within various verticals, bolster foundational infrastructure, and broaden the reach of digital services throughout Uzbekistan. The timeline for Series B has not been specified.

The Omani sovereign entities participating in this round are credited with bringing long-term regional expertise and a focus on high-growth consumer and technology sectors. The inclusion of existing international investors, coupled with the new lead investor, underscores ongoing global interest in Uzbekistan’s digital economy.

In Uzbekistan, approximately 36 million people are experiencing increasing technological investment as smartphone usage and internet penetration grow. By integrating financial technology (fintech) and e-commerce into a unified platform, Uzum is striving to boost financial inclusion among underserved segments of the population who have limited access to traditional banking systems.

Uzum’s consumer lending service, Uzum Nasiya, and its digital bank, Uzum Bank, play pivotal roles in this approach. The investment is seen as a reflection of confidence in both Uzum’s operational plans and Uzbekistan’s broader journey towards digital expansion.