Uzum has become the first unicorn in Uzbekistan — a company with a valuation exceeding $1 billion

IT Park resident, the Uzum ecosystem combining e-commerce, fintech and banking services for individuals and SMBs, has attracted over $100 million, becoming the country?s first unicorn with a valuation exceeding $1 billion. This was?reported?by TechCrunch — one of the world?s most prestigious publications covering startups, internet business, and innovation.

The lead investor in the series A round was the international venture capital fund FinSight Ventures. Xanara Investment Management and several top managers of Uzum also participated in the round. Capital investments amounted to over $50 million, while ecosystem had previously secured over $50 million in the form of debt financing.

“Over the past year, we have generated $100 million in net profit, and this year we intend to increase this figure, primarily through the integration of services within the Uzum ecosystem. This year, new directions and services for both businesses and private users will be introduced within the ecosystem,” stated Jasur Jumaev, the founder and CEO of Uzum.

In 2024, Uzum aims to launch the initial phase of the largest logistics complex for online trading in the republic, which will increase the turnover of the e-commerce sector by 2,5 times. Moreover, this year the company plans to introduce new services in the field of unsecured lending for individuals, small and medium-sized businesses, as well as to develop logistics and IT infrastructure.

Furthermore, throughout 2024, Uzum plans to secure approximately $200 million in investments from funds based in the Middle East, the United Kingdom, and the United States.

The IT Park team extends heartfelt congratulations to Uzum on its well-deserved recognition as the first technological unicorn company in Uzbekistan! This achievement stands as a vivid symbol of the company’s courage, innovation, and perseverance.

Uzum?s success serves as an example for other companies, demonstrating that bold ideas and persistence can lead to significant results. Undoubtedly, it will serve as a catalyst for further technological breakthroughs and the development of Uzbekistan?s digital industry.