The virtual mobile operator and fintech company Humans quickly found itself at the center of major financial disputes in Uzbekistan. Launched in 2020 using the infrastructure of the state-owned Uztelecom, the company rapidly expanded, but simultaneously accumulated significant debt to key partners. Between 2024 and 2025, the situation escalated into a series of lawsuits and arbitrations involving claims worth billions.
This report records confirmed debts owed by Humans to major counterparties — including Uztelecom and Octobank — analyzes court rulings, and reveals the company’s ownership structure and beneficiaries. All data is based on verified sources: official documents, court decisions, and reputable media coverage. Unconfirmed information is presented as hypotheses or open questions.
This material is intended for regulators, investors, and partners seeking an objective assessment of the situation around Humans.
Legal Proceedings
At the beginning of 2025, Humans reported strong financial results: revenue from Humans Pay grew by 60%, the number of users reached 2.3 million, and turnover totaled nearly 18 trillion Uzbek soums. However, a wave of lawsuits from financial partners soon followed — more than 13 cases were filed. The main claims relate to debts for acquiring, processing, and cash settlement services. In several cases, claims exceeded $100 million. At the same time, these liabilities were not reflected in the company’s public financial reports, raising serious concerns about financial transparency.
Financial Claims from Uztelecom
By 2025, Humans’ debt to the state-owned telecom operator exceeded 520 billion soums. According to a ruling by the Tashkent Economic Court on May 8, 2025, the company was ordered to repay the full amount, which includes around 497 billion soums in unpaid service fees and 23.5 billion in penalties. An appeal by Humans was pending as of June 2025, but the court’s decision remained in force.
Lawsuit from Octobank
In early 2025, Octobank filed a lawsuit against Humans for breaching cooperation terms regarding the UPay payment system. According to the bank, Humans failed to make required payments, accumulating debt of over 500 billion soums. On June 13, the court ruled in favor of Octobank. In response, Humans announced a counterclaim, accusing the bank of improper actions. Nevertheless, the decision in favor of Octobank came into legal effect and remains enforceable.
Ownership Structure and Offshore Links
Who really owns Humans and drives its operations?
Officially, the Uzbek entity of Humans is registered to a foreign investor: the founder of LLC “Humans” is the Singapore-based company Humans Mobile Ltd., which is part of the international holding Humans Group. This is the entity that initiated arbitration proceedings in ICSID on behalf of the investor. The setup is not accidental — Singapore and Uzbekistan have a bilateral investment protection agreement, allowing the use of World Bank arbitration mechanisms.
In practice, this structure is more of a formality. The ultimate beneficiary of Humans is believed to be Russian entrepreneur Vladimir Dobrynin — former CEO of Yota, and ex-marketing executive at MegaFon and VimpelCom. In 2016, Dobrynin launched the Humans startup in the U.S., later shifting its focus to Uzbekistan. He is the public face of the company, providing comments, making public statements, and, according to media reports, controlling the business through a chain of legal entities.
The Humans Group headquarters is likely registered in Singapore. However, operations span several other countries — Cyprus, Poland, Germany, the USA, and Uzbekistan. This indicates a complex corporate structure possibly aimed at R&D, tax planning, and international settlements. Cyprus, in particular, stands out, being commonly used as a hub for Eastern European holding companies.
Simplified Ownership Structure:
- Vladimir Dobrynin (Russia) — Ultimate Beneficiary
- Humans Group (International Holding)
- Humans Mobile Ltd. (Singapore) — Nominal Owner of LLC “Humans” in Uzbekistan
The company remains privately held, and the exact list of shareholders is not publicly disclosed. In a 2022 interview, Dobrynin mentioned raising around $5 million in investments but did not name the investors. All indications suggest that Dobrynin retains majority control, possibly shared with a small group of associates.
Geography of Business: Were There Conflicts Outside Uzbekistan?
Germany
In 2021, Humans announced a partnership with Vodafone Germany to launch the Humans.de service — a local version of its Uzbek super-app. The rollout was scheduled to begin in 2022, using the same IT systems as in Uzbekistan. However, by mid-2025, there were no public updates on the project’s launch, nor any evidence of litigation in Germany. It appears the company either postponed or abandoned the expansion due to difficulties in the Uzbek market.
United States
Originally, Humans began in the U.S. as Humans.net — a freelance services marketplace and social platform. The project was launched in 2016 and reportedly attracted around $5 million in funding. Activity in the U.S. was limited to online services and did not rely on partnerships with infrastructure providers, which likely explains the absence of disputes with local entities or regulators.
Other Countries
Humans has reported having operations in Poland and Cyprus, most likely for software development and back-office support. Notably, in October 2024, the Central Bank of Uzbekistan suspended the operations of UPay (a Humans subsidiary) and fined several banks over violations linked to international transactions. However, this incident was limited to Uzbekistan.
No confirmed debt-related conflicts or lawsuits involving Humans have been found in other countries, suggesting that Uzbekistan has so far been the main — and most aggressive — expansion zone for the company, bringing with it the greatest risks and consequences.
Conclusions and Risk Assessment
Humans Group, which positioned itself as a leader in Uzbekistan’s digital transformation, is now facing serious financial claims from key partners.
As of June 2025, confirmed court decisions against the company exceed $80 million. The rulings in favor of Uztelecom and Octobank have entered into legal force. While Humans is defending itself through an ICSID arbitration as a foreign investor, it cannot escape its domestic obligations.
The company attempts to frame itself as a victim of pressure from state structures. However, regulators — including the Central Bank — are acting within legal boundaries: suspending operations, recovering debts, and protecting public and financial interests.
Humans’ clients — both telecom subscribers and UPay cardholders — are caught in the middle. As of June 2025, UPay services have ceased, and the reliability of mobile service may also be in question. This raises doubts about the company’s long-term stability and highlights the importance of transparent ownership and adequate capitalization.
The situation with Humans sends a strong signal to regulators: there is a clear need for tighter control over fintech startups and telecom operators, especially those with foreign capital.
For the market, this is a cautionary tale about the consequences of weak financial discipline.
For investors, it is a reminder that even high-potential ventures can collapse in the absence of transparency and a sustainable business model.
