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Uzbek Fintech Company Humans Releases Financial and Operating Results for H1 2022

·3 min read

Humans shares the company's growth indicators in the Uzbek market. Revenue in the first half of 2022 grew by 57% compared to the first half of 2021, and the number of active users of the service exceeded 2 million people

Tashkent, Uzbekistan--(Newsfile Corp. - July 13, 2022) - Humans has disclosed its financial and operating results for H1 2022 in the group's management report. The superapp, which combines a fintech service, telecoms services, and a marketplace, entered the Uzbek market as the pandemic began, but Humans coverage has grown significantly over the past year. For example, the group's revenue for the first half of 2022 amounted to $14.7 million, an 57% increase compared to the first half of 2021. As of June 30, 2022, the service has more than 2 million active users. For comparison, Uzbekistan's population is 34.5 million, which means Humans managed to win nearly 6% of the country's population in just two years since it launched operations.



Caption: Humans Logo

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8822/130807_35a25896b4651919_001full.jpg

As of June 30, 2022, there were 750,000 activated Humans VISA bank cards, including plastic and virtual ones. In 2022 alone, from January to June, 253,000 Humans VISA bank cards were activated, which is 62% more than in the first half of 2021. International payment system Visa also noted this result, recognizing the Humans at the end of last year with an award for outstanding growth in issuing bank cards.

The number of Humans VISA card transactions in the first six months of 2022 was 364% greater than in the first half of 2021. The transaction volume in the mobile app also increased. For example, in the past six months, the volume of C2C transfers by Humans users amounted to 254.5 billion som, or $23.5 million. This represents a 722% increase relative to the same period in 2021. And this does not include cross-border transfers.

Humans also noted that customers are now more likely to use multiple services in the superapp: the number of multi-service users in the first half of 2022 grew by 193% compared to same period in 2021. One of the most popular services with increased demand was purchases through the Humans marketplace. Humans users spent 134 billion som (approximately $12.4 million) in the marketplace in the first half of 2022. Interestingly, in UZS terms, such spending in the first half of 2022 increased by 758% compared to the same period in 2021.

Humans clients earn cashback, which can be used to pay for mobile communications, Internet services, or other services. In the past six months alone, users received 23 billion bonus soms - about $2.1 million. Compared to the same period in 2021, 82% more cashback was earned.

"We believed that Uzbekistan has great potential for launching digital products - and in the end we were not mistaken. The Humans strategy has proven itself. The growth rates demonstrate this convincingly," Vladimir Dobrynin, CEO and founder of Humans Group. "One of Humans' main goals is to make state-of-the-art digital services available to everyone. We want to significantly increase our service's penetration across the country and reduce the digital divide in Uzbekistan. We can already see how consumer behavior is changing and new digital habits are being formed. We are confident that making fintech services available and increasing the number of Internet users are important for building a new digital economy in Uzbekistan. And our growth figures confirm that Humans is helping drive this process."

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See humans.uz for details.
Press contact: natasha.ikonnikova@humans.net

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130807