Uzbekistan's Uzum has raised $131.5 million in a new funding round led by Omani sovereign wealth funds, pushing its valuation to $2.3 billion — a 53% jump from its $1.5B valuation just seven months prior. The startup, founded in 2022, now serves 20 million users (over half of Uzbekistan's adult population) and processed $11 billion in payment volume in 2025. Revenue reached $691 million with net income of $176 million. Uzum operates an integrated digital ecosystem spanning e-commerce (Uzum Market), digital banking (Uzum Bank), consumer lending (Uzum Nasiya), and food delivery. Its digital bank issued 4.1 million debit cards in 2025 — roughly half of all cards issued in Uzbekistan that year — and holds a $400 million unsecured loan book. The company is targeting a $250–300 million pre-IPO raise in late 2026 or early 2027 and is exploring listings on U.S., European, Middle Eastern, and Southeast Asian exchanges.
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