News Desk
TASHKENT: BirBir Uzbekistan’s rapidly growing peer-to-peer (P2P) classifieds platform has raised $10 million in a new funding round. The investment will accelerate the company’s growth, allowing it to enhance its product offering, scale its engineering team, and expand its presence in Uzbekistan and beyond.
Founded in 2023 by fintech entrepreneur Alexander Pekin and edtech strategist Alexander Bayzarov, BirBir was created to solve a critical gap in Uzbekistan’s e-commerce landscape: the need for a convenient, mobile-first platform that simplifies buying, selling, and trading goods. In just over a year, BirBir has quickly emerged as one of the leading digital platforms in the country, attracting over 500,000 active monthly users and facilitating 3 million monthly sessions.
BirBir’s success is largely attributed to its mobile-centric approach, designed specifically for Uzbekistan’s growing base of digital consumers. The platform offers an intuitive, user-friendly interface, which supports local languages and enables users to easily buy, sell, or rent a wide variety of goods, from electronics and household items to vehicles and real estate.
One of the key drivers of BirBir’s early success has been its focus on the automotive market. In 2024, over 450,000 new cars were sold in Uzbekistan, with the used car market significantly outpacing this number. BirBir has provided a much-needed digital alternative to informal channels by allowing buyers and sellers to connect securely and efficiently.
“We are focused on building a seamless, trust-based environment for peer-to-peer transactions, especially in sectors like automotive, where transparency and convenience are key,” said Alexander Pekin, co-founder of BirBir. “The investment will allow us to improve our infrastructure, introduce AI-powered features, and enhance the user experience.”
Uzbekistan’s e-commerce market is experiencing rapid growth, with projections estimating that it will reach $1 billion in size by 2027. As the market matures, platforms like BirBir are well-positioned to capture the increasing demand for digital services. In 2023, online retail accounted for approximately 4% of total retail sales, with expectations that this figure will grow to 15% by 2027.
“Uzbekistan’s digital economy is in the early stages of a major transformation,” said Alexander Bayzarov, co-founder of BirBir. “With a large, young, and tech-savvy population, coupled with the government’s growing focus on digital infrastructure, the country offers a tremendous opportunity for businesses like ours.” The new funding will be used to expand BirBir’s capabilities, particularly in product development, AI-driven features, and enhancing the security and trust of the platform. The company also plans to expand its reach in the Central Asian region and strengthen its position as the go-to platform for peer-to-peer transactions in Uzbekistan.
