Fintech PR
Uzum boosts net income 50% in 1H 2024, prepares for Series B funding round
TASHKENT, Uzbekistan, Aug. 8, 2024 /PRNewswire/ — Uzum (hereafter referred to as “we”, “us”, “our”, “Uzum” or the “Company”), a leading ecosystem of digital services in Uzbekistan, today announces its key performance highlights for the six months ended 30 June 2024.
- Marketplace GMV grew 4 times year-on-year
- Loan portfolio of Uzum fintech services more than doubled
- Every third resident of Uzbekistan uses Uzum services
- Uzum is currently preparing to launch a Series B funding round in Q4 2024 or Q1 2025 and seeks to raise up to $300 million to fund the further development of its BNPL business, online lending products, and its e-commerce vertical.
The Uzum ecosystem delivered strong growth during 1H 2024, with consolidated net income increasing by 50% year-on-year on the back of the rapid development of its e-commerce and fintech services. The combined audience of the ecosystem nearly doubled year-on-year and reached 10.6 million active users per month, or approximately 30% of Uzbekistan’s population.
Nikolay Seleznev, Chief Strategy and Business Development Officer at Uzum, commented:
“We are proud of the solid results that Uzum delivered during the first half of this year and are grateful to our investors, partners, and customers for believing in our mission as we work to unlock the full potential of e-commerce and fintech in Uzbekistan. For the second half of 2024, we will lay the groundwork for the roll-out of the Uzum Bank card as well as our online lending and deposit business. At the end of this year or early next year, we plan to attract further funding to accelerate growth in the promising market of Uzbekistan. To that end, we are targeting large international funds, which would be instrumental in a subsequent prospective listing on an international stock exchange in the medium term.”
Uzum’s e-commerce unit posted a nearly fourfold increase in GMV, as the online marketplace Uzum Market further solidified its position as the country’s e-commerce champion. The marketplace’s GMV grew 3.5-fold year-on-year, while the number of orders processed by the marketplace in 1H 2024 grew more than threefold year-on-year and totaled more than 8 million, with more than 10,000 sellers now operating on the platform. Looking ahead, the Company is on track to commission the first phase of the largest warehousing complex in Uzbekistan (77,000 sqm) by year-end to service the further expansion of Uzum Market.
During this period, the online food delivery service Uzum Tezkor became a significant contributor to Uzum’s e-commerce business. In just over a year of its operation, Uzum Tezkor has become the largest domestic delivery service by geographic reach, covering the eight largest cities in the country. The service continues to onboard new restaurants to offer customers a growing range of delivery options, with 1,690 restaurants operating on the platform by the end of the period.
The Company continued to focus on profitability and product development for its fintech businesses, notably the digital Uzum Bank and the Uzum Nasiya installment payment service. During this quarter, the Bank launched pre-order branded Visa virtual cards with attractive terms for Uzbek consumers and is planning an active roll-out of online lending products over the next 12-18 months, as the business undergoes a strategic transformation into a full-blown neobank with a full suite of daily banking services.
Uzum Nasiya, a convenient installment service for everyday needs, posted a TFV 2.5-fold increase year-on-year while its loan portfolio more than doubled. The number of users with approved limits amounted to 2.8 million at the end of Q2 2024, an increase of 27% from Q1 2024. The service also showed strong synergy with the Uzum’s online marketplace, with more than 55% of orders on Uzum Market paid via Nasiya’s BNPL solution during this quarter.
In spring 2024, Uzum reached a valuation of over $1 billion and became the first tech unicorn in Uzbekistan, placing the country among the world’s most dynamic and high-opportunity markets for the development of e-commerce and fintech services. The Company is laying the technological foundation for the digitization of Uzbekistan’s economy and aims to continue its pace of growth by actively developing its own physical and IT infrastructure, as well as seamlessly integrating its services throughout the Uzum ecosystem.
About Uzum
Uzum is a digital ecosystem and the largest digital platform in Uzbekistan, providing services spanning e-commerce, express delivery, banking and fintech, and business development. More than 10 million people in Uzbekistan, or nearly one-third of the country’s population, use Uzum services every month.
After successful series A round in March 2024 Uzum became the first tech unicorn in Uzbekistan with a post-money valuation of over $1 billion.
Learn more at uzum.com.
For additional information please contact: [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/uzum-boosts-net-income-50-in-1h-2024-prepares-for-series-b-funding-round-302218178.html
Fintech PR
Nakheel partners with six renowned architecture firms to design 10 bespoke Beach Collection villas on Palm Jebel Ali
DUBAI, UAE, Jan. 15, 2025 /PRNewswire/ — Nakheel, a member of Dubai Holding Real Estate, has announced its collaboration with six locally and globally acclaimed architecture firms – WATG, SAOTA, Whitespace Architects, NAGA Architects, LOCI, and LW Design Group – to deliver a stunning 10 distinct architectural styles for the bespoke villas planned for the Beach Collection at Palm Jebel Ali.
Inspired by the island’s unique blend of oceanfront serenity, vibrant cityscape, and the colours and forms defining its landscape, the architects have crafted an exclusive collection of 10 homes that celebrates the iconic destination’s natural beauty and urban dynamism, delivering a collection of residences that seamlessly integrate indoor-outdoor living and infuse luxury into everyday living. From minimalist elegance to bold contemporary statements, the emphasis is on creating spaces that embrace natural light and take advantage of the scenic vistas to offer residents a sanctuary of tranquillity and exclusivity, aligned with Nakheel’s vision for Palm Jebel Ali.
Situated on prime beachfront locations, the five- and six-bedroom villas from the Beach Collection range from 7,300 sq ft to 8,500 sq ft, offering unparalleled privacy and exclusivity. Each villa boasts a unique and contemporary façade, meticulously designed to complement the coastal setting. Grand entryways with double-height volumes lead to expansive living spaces, where floor-to-ceiling windows showcase captivating views of the Arabian Gulf.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: “With its breathtaking oceanfront views and ambitious vision, Palm Jebel Ali has inspired some of the world’s leading architectural minds to design bespoke masterpieces for The Beach Collection. These unique villas embody luxury, sophisticated design and a seamless connection with nature, a testament to the success of our collaboration, showcasing the individual brilliance of each architect while capturing the essence of this extraordinary destination. This collaboration brings to life our vision for exceptional homes that cater to inspired tastes and lifestyles.”
Palm Jebel Ali’s seven islands span 13.4 kilometres, feature 16 fronds and over 90 kilometres of beachfront, and it marks the beginning of a new growth corridor in the Jebel Ali area, underlining the expansion of the emirate, in line with the Dubai 2040 Urban Master Plan and the Dubai Economic Agenda D33.
Nakheel’s projects form an iconic portfolio that are pivotal to realising Dubai’s vision.
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View original content:https://www.prnewswire.co.uk/news-releases/nakheel-partners-with-six-renowned-architecture-firms-to-design-10-bespoke-beach-collection-villas-on-palm-jebel-ali-302351788.html
SHARJAH, UAE, Jan. 15, 2025 /PRNewswire/ — American University of Sharjah (AUS), invites outstanding international students to apply for the President’s Scholarship for Fall 2025. Open to applicants who have completed their secondary education outside the UAE, this scholarship provides talented students with the opportunity to join a dynamic academic community that fosters innovation, collaboration and leadership.
AUS is ranked among the top five universities in the UAE for its number of international students according to QS World University Rankings 2025 and third for its international student ratio in the Arab region according to QS Arab Region University Rankings 2024. With a campus that represents approximately 90 nationalities, AUS offers an inclusive and vibrant environment where diverse perspectives enrich academic and personal growth.
The scholarship covers full tuition and lab fees, on-campus housing, student medical insurance and a monthly stipend to support living expenses. Recipients also benefit from three annual round-trip tickets during their studies.
Dr. Tod Laursen, Chancellor of AUS, underscored the significance of the scholarship, stating: “The President’s Scholarship reflects our steadfast commitment to providing talented students from around the globe with access to an education that is both transformative and empowering.”
Students at AUS benefit from remarkable opportunities to engage in innovative research studies, thanks to the establishment of six cutting-edge research centers. These include the Artificial Intelligence, Smart Infrastructure and Robotics Research Center; the Materials Research Center; the Center for Entrepreneurship, Innovation and Sustainable Development; the Energy, Water and Sustainable Environment Research Center; the Center for Arab Studies and Islamic Civilizations; and the Advanced Biosciences and Bioengineering Research Center.
Located in Sharjah, the cultural capital of the UAE, AUS combines tradition with modernity on a campus that inspires exploration and discovery. AUS students are immersed in a thriving ecosystem of cultural heritage, entrepreneurship and technological advancement. The vibrant campus life offers opportunities for personal development and engagement through over 120 student-led organizations, including cultural clubs that celebrate global traditions, academic associations that drive professional excellence and interest-based clubs that cater to diverse passions and talents.
The President’s Scholarship is open for applications until Thursday, April 17, 2025, and renewable for students who continue to meet the scholarship’s requirements. Prospective applicants can visit apply.aus.edu to learn more about the eligibility criteria and submit their applications. To know more about the scholarships and grants offered by AUS, visit www.aus.edu/scholarship.
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View original content:https://www.prnewswire.co.uk/news-releases/aus-announces-presidents-scholarship-for-international-students-302351720.html
LONDON, Jan. 15, 2025 /PRNewswire/ — elevendigits Ltd, a company at the forefront of financial technology and business funding solutions is thrilled to announce the launch of three business loan comparison websites tailored to the needs of entrepreneurs in the United Kingdom, the United States, and New Zealand: business-loan.uk, business-loans.com, and businessloan.nz.
This strategic expansion effort reflects elevendigits’ commitment to simplifying the financial decision-making process for businesses across many different markets. By offering user-friendly platforms designed to make life easier, these websites provide transparent, accessible and efficient loan comparisons for companies of all sizes.
Meeting the Needs of Global Entrepreneurs
These 3 new websites are tailored not only to the unique issues and regulations, but also to the opportunities within their respective markets:
- business-loan.uk: Designed specifically for the UK business landscape, it addresses the growing demand for tailored funding options, helping startups and SMEs navigate a competitive market.
- business-loans.com: Caters to the vast US business ecosystem. This platform matches entrepreneurs with a wide array of financing opportunities. This ensures they find the best fit for their growth ambitions.
- businessloan.nz: Focused on New Zealand’s entrepreneurial community. It seeks to simplify the access to funding solutions for businesses that prioritize agility and innovation.
Streamlined Access to Business Financing
The platforms provide comprehensive loan comparison tools that let business owners evaluate multiple funding options based on several categories such as interest rates, repayment terms, eligibility requirements and lender reputation. Each site features:
- Personalized Recommendations: Tailored loan matches which are based on your business profile and funding needs.
- Educational Resources: Guides, articles and tools to help business owners make informed decisions.
- Secure and Efficient Application Processes: A streamlined experience that lets you save time and reduces the complexity of securing funding.
A Vision for Empowered Business Growth
“Access to the right financial tools can be transformative for businesses,” said the CEO of Elevendigits Ltd. “By launching these platforms, we’re ensuring that entrepreneurs in the UK, USA and New Zealand can confidently navigate their financing options and grow their businesses.”
About Elevendigits Ltd
Elevendigits Ltd is a global leader in financial technology, dedicated to creating solutions that can form a connection between businesses and the financial institutions capable of funding them. With a strong eye for transparency and accessibility, Elevendigits continues to simplify the life of entrepreneurs worldwide.
View original content:https://www.prnewswire.co.uk/news-releases/elevendigits-ltd-launches-three-different-business-loan-comparison-websites-302351681.html
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