Number of active users of Humans exceeded 2 million people
Tashkent, Uzbekistan (UzDaily.com) -- Humans shared the company’s growth performance in the Uzbek market. Revenue in the first half of 2022 increased by 57% compared to the first half of 2021, and the number of active users of the service exceeded 2 million people.
Humans has disclosed financial and operating results for the 1st half of 2022, presented in the management reporting of the group of companies. The superapp, which combines a fintech service, telecom operator services and a marketplace, entered the Uzbek market at the beginning of the pandemic, but over the past year, the reach of Humans has grown significantly. Thus, the group’s revenue for the first half of 2022 in dollar terms amounted to US$14.7 million, an increase of 57% compared to the first half of 2021. As of 30 June 2022, the number of active users exceeded 2 million people. For comparison, the population of Uzbekistan is 34.5 million. Thus, Humans managed to cover almost 6% of the country’s population in just two years from the start of the project.
Fintech services of Humans turned out to be especially in demand in Uzbekistan. As of 30 June 2022, the total number of activated Humans VISA bank cards, including plastic and virtual ones, amounted to 750,000. 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. Visa also noted this result, and at the end of last year, when the payment system assigned Humans Award for Significant Emission Growth.
The growth in the number of transactions with Humans VISA cards in the first six months of 2022 amounted to 364% compared to the first half of 2021. The volume of transactions in the mobile application also increased - for example, over the past six months, the amount of C2C transfers of Humans users amounted to 254.5 billion soums, or US$23.5 million. In relation to the same period in 2021, the increase was 722%. And this is without taking into account cross-border transfers.
Humans also noted that customers have become more likely to use two or more services in a super app: the number of such users has grown by 193% when comparing figures for the first half of 2022 and the same period in 2021. One of the most popular services that was in high demand is shopping through the marketplace. In it, Humans users spent 134 billion soums in the first half of 2022, which is approximately US$12.4 million. Interestingly, in the first half of 2022, the amount of these spending in Uzbek soums increased by 758% compared to the same period in 2021.
Humans clients earn cashback, which can be spent on paying for mobile services, the Internet, or additional services. Over the past six months alone, users have received 23 billion bonus sums, which is comparable to US$2.1 million. Compared to the same period in 2021, the increase in the amount of cashback earned was 82%.
“We understood that Uzbekistan has great potential for launching digital products - and in the end we were not mistaken. The Humans strategy has justified itself, and the growth rates convincingly prove this,” comments Vladimir Dobrynin, CEO and founder of the Humans Group.
One of the main tasks of Humans is to make modern digital services accessible to everyone. We want to significantly increase the penetration of our service throughout the country and reduce the digital divide in Uzbekistan. Already, we can see how consumer behavior is changing and how new digital habits are being formed. We are confident that the availability of fintech services and an increase in the number of Internet users are important for building a new digital economy in Uzbekistan. And our growth figures confirm that Humans is one of the drivers of this process.”