Uzum to invest $300 million in Uzbekistan’s digital economy

Uzum, together with other important foreign investors, intends to invest $300 million to support the future expansion of Uzbekistan’s digital economy.

The funds will be used to accelerate the growth of Uzum Group’s e-commerce, digital banking, and fintech services, as well as to build the company’s own logistical infrastructure.

The investment round will be a significant milestone in the company’s history, highlighting Uzum’s status as the national digital champion and essential enabler of digital change in Uzbekistan.

Uzum is now ready to raise money from prominent investment funds after completing all official procedures relating to the development of the holding structure.

New funds would be utilized to enhance growth and reinforce the leading positions of current business units, as well as to expand into adjacent verticals with high synergy potential, in accordance with the group’s strategy.

Uzum is developing a nationwide digital platform that will provide digital services to millions of people across the country.

In addition to the present product line, the firm has a large backlog of future goods in the works, such as classifieds, other services, and solutions for entrepreneurs (such as finance and last-mile logistics).

Uzum’s objective is to develop a one-stop digital solution for both individuals and enterprises, giving its clients access to best-in-class digital solutions across the country.

The development of the ecosystem is also highly helpful to the country’s economy since it promotes the growth of the SME sector, enhances banking service penetration, improves financial literacy, and raises the percentage of cashless transactions.