News Summary

Uzbekistan’s first unicorn, Uzum, has achieved a significant milestone by securing $65.5 million in a new funding round, raising its post-money valuation to approximately $1.5 billion. This 30% increase in valuation from its previous $1.16 billion status highlights the growing interest in Central Asian startups. Founded in 2022, Uzum has rapidly expanded its portfolio, which includes e-commerce, fintech, and digital banking services. With over 17 million monthly active users and 16,000 merchants, Uzum has recorded impressive growth in gross merchandise value and net income. The startup plans to further develop its fintech offerings and open its e-commerce platform to international merchants. Uzum’s strategic approach and local expertise have attracted global investors like Tencent, positioning it for continued success and potential public offering in the future.