Uzum closes $130M, Slice eyes $100M
- Uzbekistan-based Uzum said on March 10 it closed a strategic investment of more than $130 million, led by sovereign entities from Oman, to fund e-commerce, banking, payments and lending. - In India, fintech-bank Slice is in advanced talks to raise $80 million to $100 million from Accel, Elevation Capital, Peak XV Partners and others, with a secondary piece possible. - The two deals point to investor appetite for regulated, local-market fintech models after Slice’s bank merger and Uzum’s $2.3 billion valuation. (moneycontrol.com)
Uzum said on March 10 that it closed a strategic investment of more than $130 million, while India’s Slice is in advanced talks for a new round that could reach $100 million. (uzum.com) (moneycontrol.com) Uzum said the round was anchored by sovereign entities of the Sultanate of Oman and combined primary equity with structured capital. The company said the deal set a $2.3 billion pre-money valuation reference point. (uzum.com) Existing Uzum backers VR Capital, Tencent and FinSight Ventures also supported the transaction, according to the company. Bloomberg reported the financing valued the Uzbek fintech and e-commerce group at $2.3 billion. (uzum.com) (bloomberg.com) Slice’s fundraising is not closed, but Moneycontrol reported the Bengaluru company is in talks with Accel, Elevation Capital, Peak XV Partners and other investors. The report said the round could exceed $100 million if it includes a secondary component for employee stock option holders. (moneycontrol.com) That process comes after Slice completed its merger with North East Small Finance Bank effective October 27, 2024. The merged lender later rebranded as Slice Small Finance Bank after a Reserve Bank of India notification in May 2025. (economictimes.indiatimes.com) (cnbctv18.com) The common thread is that both companies are selling a local banking story, not just a payments app. Uzum said it will use the money across e-commerce, digital banking, payments and consumer lending, while Slice is raising after becoming a regulated small finance bank. (uzum.com) (economictimes.indiatimes.com) (moneycontrol.com) Uzum also used the March announcement to point to scale in Uzbekistan. The company said its ecosystem serves more than 17 million people and includes marketplace, express delivery, classic retail, bank, buy now pay later, car platform and business services. (uzum.com) Bloomberg reported Uzum is weighing a possible initial public offering in 2027, with FinSight Ventures’ Konstantin Deykalo saying valuation could exceed $5 billion. For now, one deal is signed and one is still being negotiated. (bloomberg.com)
