Uzum is an innovative digital platform company based in Tashkent, Uzbekistan. Founded by Djasur Djumaev in 2022, the company operates across multiple sectors, including e-commerce, fintech, express delivery, and digital banking. With a recently acquired valuation of $1.5 billion, Uzum has emerged as Uzbekistan's first unicorn. The company has raised approximately $137 million in total equity funding, supported by prominent investors like Tencent and VR Capital.
| Attribute | Information |
|---|---|
| Founding Date | 2022 |
| Headquarters | Tashkent, Uzbekistan |
| Founders | Djasur Djumaev |
| Revenue | Not disclosed |
| Profits | $150 million in 2024 |
| Key Investors | Tencent, VR Capital, FinSight Capital |
| Industry | E-commerce, Fintech |
| Number of Employees | Not disclosed |
Uzum was established in the wake of Uzbekistan's progressive reforms and modern economic policies introduced by President Shavkat Mirziyoyev. The company first launched its e-commerce marketplace, Uzum Market, in 2022. With a strong start, Uzum rapidly expanded its operations to incorporate fintech services, establishing itself as a major player in the digital money transactions space. In 2023, the company ventured into express food delivery, introducing Uzum Tezkor. Through strategic growth and a deep understanding of local consumer needs, Uzum has built a robust digital and physical infrastructure, laying the foundation for its present success.
Uzum's business model integrates e-commerce, fintech, and express delivery services, creating a cohesive digital ecosystem. This platform serves over 17 million monthly users and collaborates with 16,000 merchants.
Currently, Uzum stands as Uzbekistan’s most comprehensive digital ecosystem, merging commerce with financial services seamlessly. Dominating the fintech sector in Uzbekistan, Uzum Bank is noted as the fastest-growing digital bank in the region. The company’s strategic initiatives include expanding its proprietary fintech infrastructure and product offerings, aiming to support the digitization of the Uzbek economy. The e-commerce arm, powered by Uzum Market, retains a formidable market presence, asserting Uzum's vertically integrated structure as a core strength.
Uzum is a pioneering force within Uzbekistan’s digital landscape. By integrating various digital services into one consolidated platform, it has tapped into the growing demand for innovative financial solutions and e-commerce within the region. As it seeks further expansion into cross-border markets and continuous enhancement of its fintech capabilities, Uzum solidifies its role as a crucial player in connecting traditional markets with new-age technological solutions. With ambitious growth strategies and solid institutional backing, the company appears poised on the brink of wider regional influence, offering a template for future tech innovations in Central Asia.