Participated · Equity · Mar 2026

Uzum operates as a platform serving consumers and entrepreneurs in Uzbekistan and is expanding its offering into digital financial services such as digital payments and consumer financing. The company plans to deploy the $70 million loan from the Eurasian Development Bank to scale these services across the country and to invest in technology, distribution, and customer acquisition. Management and observers expect the capital to help grow revenue from payments and consumer finance channels by reaching millions of users and entrepreneurs. The debt financing increases Uzum’s leverage, which could boost growth but also raises exposure to credit-quality and balance-sheet risk in a developing regulatory environment. The transaction coincided with the opening of the bank’s representative office in Tashkent and is noted as the bank’s first investment in Uzbekistan since the country joined, which may confer reputational benefits. The association with a multilateral development institution could also help Uzum access future multilateral or cross-border funding.