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Uzbekistan has its first tech unicorn. E-commerce startup Uzum announced on March 26 that is has claimed the “billion dollar” crown, having raised $114mn in funding on a valuation of $1.16bn. ‘It was a surprise for us to see that the penetration of smartphones was high [in Uzbekistan] and telecom infrastructure was in place, but there was no e-commerce, no proper fintech,’ Uzum’s co-founder and CEO, Djasur Djumaev told TechCrunch after the unicorn status was confirmed. Uzum’s Series A funding round, made up of $52mn in equity and $62 million in debt, was led by FinSight Ventures. It saw partic…

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