The Chinese investment company Tencent Holdings Ltd. and the international investment fund VR Capital Group conducted a round of equity financing of the Uzbek fintech company Uzum Holding Ltd. This is reported in the Uzum press release.
As part of the financing round with the participation of FinSight Ventures, Uzum raised $70 million and increased the total value to $1.5 billion. In 2024, the company raised $114 million through investments and debt financing.
The funds raised will be used to develop the ecosystem's own fintech infrastructure, expand the product line, develop digital e-commerce solutions, and strengthen Uzum's leadership in the country's online trading and fintech market.
Uzum already occupies a key place in the digital economy of Uzbekistan. In less than three years, the company has become one of the country's largest taxpayers and provides support to small and medium-sized businesses. Uzum Bank cards are used by more than two million residents of Uzbekistan, Uzum Market remains the largest online marketplace with a wide geography of pick-up points and an extensive assortment, and the Uzum Tezkor delivery service is represented in 25 cities.
Uzum is an Uzbek digital ecosystem that combines fintech, e-commerce and banking services for individuals and small and medium-sized businesses (marketplace, express delivery service, classic and digital banking, BNPL service, car purchase platform, as well as an application for entrepreneurs).
Tencent Holdings Ltd. is one of the world's largest technology and investment conglomerates headquartered in Shenzhen, China. The company manages one of the most extensive investment portfolios in the world, which includes 800 companies (Epic Games, Riot Games, Spotify, Tesla, Nubank, Pinduoduo, Meituan, Reddit, etc.). The headquarters is located in Shenzhen (China).
VR Capital is an international investment fund with assets of over $8 billion under management. Since 1999, the company has been managing the external capital of institutional investors, focusing on investments in emerging markets. The main offices of VR Capital are located in New York (USA) and London (England).
FinSight Ventures is a venture capital fund specializing in investments in FinTech, B2B SaaS, e—commerce companies and other segments of the technology market.
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