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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Europe’s Deadly Summer Heat Exposed The Cost Of A Warming Continent

by THEFUTURE.TEAM

October 23, 2026

Europe experienced its deadliest summer for heat-related deaths on record in 2026, with an estimated 24,400 excess deaths linked to extreme temperatures across 30 countries. Researchers estimate that human-induced climate change was responsible for around 32,000 of the deaths attributed to heat in the study’s broader analysis, accounting for 65% of the total.

The findings highlight the growing public-health consequences of global warming, largely driven by fossil fuel use, as extreme heat becomes more frequent and severe.

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A Summer Of Dangerous Heat

Between June and August, heatwaves pushed temperatures in Western Europe to an average of 2.9°C above the 1991–2020 norm, with some days reaching 12°C above average. Nearly a third of estimated heat-related deaths occurred during a particularly intense heatwave between 17 June and 1 July.

“These numbers are a stark reminder that our hotter, more extreme summers are having an increasingly severe impact on public health,” said Dr Clair Barnes, a researcher at Imperial College London and co-author of the study.

The estimated toll exceeded previous peaks of around 29,000 deaths in summer 2022 and 28,000 in 2003 across the region studied.

How Researchers Estimated The Toll

Researchers modelled the relationship between temperature and mortality across 854 urban areas in the EU, UK, Norway and Switzerland, covering around 40% of the population in the 30 countries studied.

The analysis incorporated temperature records, age, socioeconomic conditions, environmental factors and access to healthcare. By comparing actual temperatures with those expected without human-induced warming, the team estimated the additional deaths attributable to climate change.

Final official mortality figures for summer 2026 are not yet available in many countries, and heat-related deaths are often underreported because their effects can be difficult to identify directly.

Older People Face The Greatest Risk

People aged 85 and over accounted for roughly half of the estimated deaths. However, the impact extended across age groups, with around 800 excess deaths among adults aged 20–44 and approximately 6,000 among people under 65.

Southern Europe experienced the highest mortality burden, reflecting hotter temperatures and other vulnerabilities, including air pollution, limited green space and unequal access to healthcare and heat-alert systems.

Italy, France And Spain Record Highest Toll

Italy recorded an estimated 13,303 heat-related excess deaths, followed by France with 7,268 and Spain with 6,824. Germany recorded around 6,340, while the UK saw an estimated 4,354 deaths.

In the UK, the heat also placed significant pressure on healthcare services. Andrew Hartle, Professor of Practice of Anaesthesia at Imperial College Healthcare, said demand during the summer resembled that of a severe winter virus season.

Cities Urged To Strengthen Heat Protection

Researchers say cities can reduce the risks through climate shelters, external shading and building retrofits, alongside measures to help residents avoid exposure during the hottest hours. Checking on vulnerable people, staying hydrated and following heat alerts are also important.

The researchers stress that adaptation must go hand in hand with reducing fossil fuel use to limit further warming. The findings underline that extreme heat is already a major public-health threat across Europe, with thousands of lives at risk each summer.

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