Uzum became the first unicorn in Uzbekistan, a company with an estimated value of more than $ 1 billion

    Business 28 March 2024 1019

    The resident of IT Park, the Uzum ecosystem, combining e-commerce, fintech and banking services for individuals and small and medium-sized businesses, attracted more than $ 100 million and became the country's first "unicorn" with an estimate of more than $ 1 billion. This is reported by TechCrunch, one of the most prestigious publications in the world about startups, Internet business and innovation.

    The lead investor in the series A round was the international venture fund FinSight Ventures. Xanara Investment Management and a number of Uzum top managers also participated in the round. Investments in capital amounted to more than $ 50 million, and the ecosystem attracted more than $ 50 million earlier in the form of borrowed funds.

    "Last year we earned $ 100 million in net profit, and this year we intend to increase this figure, including through the integration of services within the Uzum ecosystem. This year, new directions and services for business and private users will appear in the ecosystem," said Jasur Jhumayev, founder and CEO of Uzum.

    In 2024, Uzum intends to launch the first stage of the largest logistics complex for online trading in the republic, which will increase the turnover of the e-commerce direction by 2.5 times. Also this year, the company plans to launch new services in the field of unsecured lending to individuals, small and medium-sized businesses, as well as develop logistics and IT infrastructure.

    Also, during 2024, Uzum plans to attract about $ 200 million more investments from funds from the Middle East, the United Kingdom and the United States.