Uzbek digital ecosystem Uzum closed a Series A round for $114 million, making the company the first tech “unicorn” in Uzbekistan with a valuation of over $1 billion, it told RB. RU a representative of the company. Uzum will use the funds raised to develop logistics and IT infrastructure in the country, as well as to finance its installment payment service.
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The round was led by the global venture fund FinSight Ventures, and also included the participation of Xanara Investment Management and some senior executives of the company itself.
Capital investments amounted to more than $50 million, and the ecosystem previously attracted more than $50 million in the form of borrowed funds; Therefore, the total investment in Uzum exceeded $100 million.
The Uzum startup was launched in 2022 by KupiKupon founder Jasur Dzhumaev and former VK director Boris Dobrodeev. The latter left the company in 2023 and decided to focus on projects in Russia. Today, Uzum is an ecosystem that includes e-commerce, fintech and banking services for individuals and small and medium-sized businesses. The company is developing a marketplace, a BNPL service, an express delivery service, classic and digital banks, a platform for purchasing cars, and an application for entrepreneurs.
According to the company’s general director, Jasur Dzhumaev, digital services in Uzbekistan are in high demand. It took the startup just over a year to create an ecosystem whose services are used every month by more than 10 million residents of the country.
“Last year we made around $100 million in net profit and this year we aim to increase this figure, including by integrating services within the Uzum ecosystem. This year, new directions and services for companies and private users will appear in the ecosystem,” says Dzhumaev.
Currently, the company focuses, among other things, on the creation of two super applications: Uzum for individuals and Uzum Business.
At the end of 2023, Uzum received $100 million in net profit. This year the company plans to build a logistics complex for online commerce in Uzbekistan; The first stage of the facility will have an area of 112 thousand square meters. meter.
Author:
Natalia Gormaleva
Source: RB
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