Uzbekistan's Uzum Raises $130M from Oman Fund, Valuation Hits $2.3B

Uzum, Uzbekistan's leading digital ecosystem, has successfully closed a strategic investment round, securing over $130 million from sovereign wealth funds of the Sultanate of Oman. The company confirmed the deal in an official statement.

The funding round also saw participation from existing investors, including VR Capital, Tencent, and FinSight Ventures. Following this investment, Uzum's valuation has been set at $2.3 billion.

The newly acquired capital will be channeled into developing the core pillars of the company's ecosystem: e-commerce, digital banking, and payment services.

Currently, more than 20 million people in Uzbekistan use Uzum's services every month. The investment is expected to fuel the expansion of its technological infrastructure, enhance the accessibility of its digital offerings, and extend its reach across the country's regions.

This successful funding round underscores the growing interest of international investors in Uzbekistan's digital economy and solidifies Uzum's position as a key driver of innovation within the nation.