Uzum, a prominent fintech and digital banking institution based in Uzbekistan, has successfully raised nearly $70 million in equity funding. This round saw participation from major investors including Tencent, VR Capital, and FinSight Ventures, a U.S.-based fund that focuses on investments in AI, fintech, and super-apps. Notably, FinSight Ventures was also the lead investor during Uzum’s initial equity round in March 2024.
This latest funding has significantly increased Uzum’s valuation, which now stands at approximately $1.5 billion post-money. The company’s digital banking arm, Uzum Bank, is gaining considerable traction both operationally and financially. Following the launch of its co-branded Visa debit card that features pre-approved credit limits in August 2024, Uzum has issued over two million cards during the first half of 2025. This initiative marks Uzbekistan’s introduction of the first embedded credit limit associated with a debit card. Additionally, the firm’s consumer credit segment, particularly its Buy Now Pay Later (BNPL) service, has seen a threefold increase in total financed volume within the same timeframe.
The funds raised in this round will be allocated towards enhancing Uzum’s proprietary fintech infrastructure and expanding its product offerings. Djasur Djumaev, the founder and CEO of Uzum, emphasized the company’s rapid growth, stating, “In just two years, Uzum has created the most comprehensive digital ecosystem in Uzbekistan. We are transforming how consumers shop, pay, and manage their finances. This funding enables us to further enrich our fintech services and strengthen our position in the digital banking and lending sectors.”