Uzum, an ecosystem that combines e-commerce, fintech and food delivery, has raised $114 million in funding, becoming Uzbekistan’s first unicorn company with a valuation of $1.16 billion.

Uzum plans to spend two-thirds of the funds on fintech and one-third on e-commerce. It plans to launch new products for unsecured lending to individuals and SMEs, and invest in its own IT and logistics infrastructure.

In October 2023, Uzum announced that alongside with international investors it intends to invest about $300 million in the development of Uzbekistan’s digital ecosystem.

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