Uzbekistan’s largest digital platform Uzum has reported a 2025 net profit of $176mn with strong growth in its fintech and ecommerce businesses.

Gross merchandise value (GMV) across ecommerce exceeded $500mn, up 1.5 times year on year, while total volumes across fintech products, including consumer instalments and lending, reached $1.2bn, nearly triple the 2024 level.

“Our focus has always been on building core infrastructure, which includes payments, logistics, risk models and digital banking and supporting sustainable growth for years, not quarters,” said Djasur Djumaev, founder and CEO of Uzum. “The results we’re seeing today are a direct outcome of that strategy. Uzum is becoming a foundational platform for commerce and financial services in Uzbekistan.”

Fintech remained the group’s fastest-growing vertical in 2025. Uzum issued more than 4mn payment cards during the year and launched online deposits, attracting more than $50mn in customer funds within three months.

Total payment volume across the ecosystem more than doubled y/y to $11.1bn, driven by the rising adoption of cashless transactions and tighter integration between commerce and financial services.

The company has invested heavily in machine learning systems that underpin its credit screening, risk management, pricing and personalisation tools. 

Executives say these capabilities allow it to scale lending and payments while maintaining portfolio quality.

Uzum’s ecommerce operations have expanded nationwide. The number of active local sellers has surpassed 17,000 and marketplace assortment has exceeded 100mn stock keeping units (SKUs) following the launch of cross-border offerings. 

To support higher volumes, the group has expanded its logistics network to 1,500 pickup points across more than 450 locations, combining company-owned and partner-operated sites. 

New seller models and digital tools have been introduced to lower entry barriers for small businesses and improve transparency in online trading.

Additionally, Kapitalbank, part of the Uzum group, increased its loan portfolio to $3.1bn and deposits to $3.7bn last year. 

Lending to small and medium sized enterprises (SMEs) rose 1.7 times y/y, supported by digital onboarding and integrated payment solutions.

More than 20mn people in Uzbekistan use Uzum’s services each month.