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
DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/board-the-token2049-treasure-express-with-bybit-and-dive-into-an-80-000-prize-pool-302240594.html
DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-expands-global-reach-receives-formal-consent-for-full-authorization-in-kazakhstan-302240634.html
Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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