Uzbekistan's Uzum valuation leaps over 50% in 7 months to $2.3B

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"Uzbekistan fintech Uzum has reached a $2.3 billion valuation — about 53% higher than just seven months ago — as investors place growing bets on the country’s emerging digital economy.

The valuation stems from a $131.5 million investment led by sovereign wealth funds from Oman, with participation from existing investors, including Tencent, VR Capital, and FinSight Ventures. ...

Uzbekistan, Central Asia’s most populous country, emerges as one of the region’s fastest-growing digital economies, driven by a young population, rapid smartphone adoption, and low [fast] penetration of online retail and banking services. ..."

Uzbekistan's Uzum valuation leaps over 50% in 7 months to $2.3B | TechCrunch

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