Uzbekistan Fintech Uzum Valued At $2.3 Billion After New Funding

by THEFUTURE.TEAM

March 10, 2026

Uzbekistan’s fintech leader Uzum has achieved a remarkable $2.3 billion valuation, marking a 53% increase in just seven months. This surge comes on the back of a $131.5 million funding round led by sovereign wealth funds from Oman, with continued backing from investors such as Tencent, VR Capital, and FinSight Ventures.

The investment round comprises $81.5 million in equity and $50 million in convertible financing, positioning the startup for a potential pre-IPO raise of $250 million to $300 million in late 2026 or early 2027. Notably, this follows an earlier milestone when Uzum secured $65.5 million at a $1.5 billion valuation in August 2025, establishing it as the country’s first unicorn.

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Building Uzbekistan’s Digital Ecosystem

Founded in 2022, Uzum operates a digital platform that combines e-commerce, payments and consumer lending services. The company initially launched Uzum Market as an online marketplace and later expanded its operations by introducing a digital bank, Uzum Bank, a consumer lending service called Uzum Nasiya and an express food delivery service known as Uzum Tezkor.

During its previous funding round, Uzum reported more than 17 million monthly active users. The platform now connects nearly 20 million users with more than 17,000 local sellers. Payment volume on the platform reached $11 billion in 2025. Annual transacting users increased from about 3 million to 4.6 million over the past year.

Fintech Driving Profitability

Fintech services represent a major source of revenue for the company. Uzum reported revenue growth from $505 million to $691 million in 2025, while net income increased from $150 million to $176 million. Its e-commerce division recorded $500 million in gross merchandise value and reached EBITDA profitability within three years of operation. The digital bank currently serves around 5 million customers and has issued 4.1 million debit cards. These cards represented nearly half of all debit cards issued in Uzbekistan in 2025. Uzum reports an unsecured loan portfolio of $400 million and a total financing volume of $1.2 billion. Management expects the bank to add about 5 million additional customers as lending and payment services expand.

The company is also expanding cross-border marketplace operations by integrating products from international suppliers. The platform now includes about 200 million SKUs from markets such as Turkey and China alongside roughly 1.5 million locally sourced products available for next-day delivery.

Investing In Infrastructure For Sustainable Growth

To support its expansive growth, Uzum has significantly invested in its logistics and physical infrastructure. The company currently operates approximately 1,500 pickup points across Uzbekistan, with plans to double that network by 2026. Additionally, its warehouse footprint is set to expand from 125,000 to roughly 500,000 square meters, facilitated by four new logistics centers.

Chief strategy and business development officer Nikolay Seleznev said direct investment in logistics remains necessary in markets where third-party fulfillment services are limited.

Positioning For A Global Stage

Uzum plans to use the new funding to expand fintech and commerce services, including additional ATMs, payment systems and point-of-sale infrastructure. The company is also considering several potential locations for a future public listing, including exchanges in the United States, Europe, the Middle East and Southeast Asia. Management has indicated that an initial public offering could take place within the next three years.

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European And North American Cities Dominate Oxford Economics’ 2026 Index

by THEFUTURE.TEAM

September 17, 2026

European and North American cities dominate Oxford Economics’ 2026 Global Cities Index, taking 78 of the top 100 positions. Europe accounts for 44 cities, while the U.S. has 30 and Canada has four.

The index assesses the world’s largest cities across economics, human capital, quality of life, environmental conditions and governance.

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London, Paris And New York Lead Major Cities

London ranks second globally, followed by Paris in third, Dublin in sixth and Zurich in 10th. Five U.S. cities, New York, Seattle, San Francisco, Boston and San Jose, also place in the global top 10.

U.S. cities generally score strongly on economics and human capital, while European cities perform better in quality of life, environmental conditions and governance, according to Liam Sides, director of City Services at Oxford Economics.

London stands out among European cities with the index’s highest human-capital score, although its quality-of-life score of 77 is its weakest category.

Housing Costs Remain A Common Challenge

High housing costs weigh on quality-of-life scores in London, Dublin and New York. More affordable cities such as Toulouse can attract workers from larger, more expensive urban centers.

Dublin climbed seven places to sixth, while Warsaw recorded Europe’s biggest rise, jumping 109 places to 61st. Istanbul rose 42 places to 64th, while Madrid and Budapest gained 14 places each.

Not all major cities improved. Rome fell eight places to 119th, while Lisbon dropped 44 places to 148th.

Five European Cities To Watch

Oxford Economics highlighted Warsaw, Tallinn, Eindhoven, Manchester and Toulouse as European cities to watch.

Warsaw’s economy is forecast to grow by about 3% annually over the next five years, nearly twice the European-city average. Tallinn is expected to record the strongest GDP growth among major EU cities over the next decade, supported by technology and professional services.

Eindhoven remains a major research and advanced-manufacturing center, with more than 5,000 high-tech and knowledge-based companies in its Brainport cluster. Manchester has recorded the strongest GDP and productivity growth among UK cities since 2010, while Toulouse continues to benefit from its aerospace industry and relatively lower living costs.

AI Is Reshaping Urban Growth

AI is increasingly influencing the economic prospects of cities with strong technology and advanced-manufacturing industries. London benefits from its universities and digital economy, while Eindhoven combines AI with advanced manufacturing and Tallinn has relatively high AI adoption among Central and Eastern European peers.

Outside Europe and North America, Taipei climbed 12 places to 48th, Kuala Lumpur rose 14 places to 65th and Shenzhen entered the top 100 at 93rd. Oxford Economics also expects cities such as Shenzhen and Bengaluru to benefit from AI and other emerging technologies if innovation translates into productivity gains.

Asia Gains Ground

Europe and North America continue to dominate the index, but Asian cities are becoming increasingly important drivers of urban economic growth.

By 2050, Chinese and Indian cities are forecast to account for a larger share of global-city GDP than Europe. Shanghai’s economy is expected to overtake San Francisco’s next year, while Ho Chi Minh City is projected to approach Berlin’s economic size by 2050.

The 2026 index therefore shows continued strength among established European and North American cities alongside faster growth in several Asian urban centers.

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