Uzum, an e-commerce and fintech company registered in Abu Dhabi and backed by Tencent, is planning a pre-IPO funding round in either late 2026 or early 2027. The company is targeting to raise between $250 million and $300 million in this round, seeking to further bolster its growth before a potential initial public offering.
The company's valuation recently reached $2.3 billion, a 53% increase from seven months prior. This valuation was established through a $131.5 million investment, comprising $81.5 million in equity and $50 million in convertible financing. This investment was led by sovereign wealth funds from Oman, with participation from existing investors like Tencent, VR Capital, and FinSight Ventures.
Uzum achieved unicorn status in March 2024, with a $1.5 billion valuation after a $65.5 million raise in August. The new capital will be used to expand its fintech infrastructure, deepen product offerings across commerce and financial services, and invest in ATMs, payment acceptance infrastructure, and point-of-sale systems. Uzum aims to build a fully integrated digital banking platform.
The company is targeting a public listing within the next three years, exploring exchanges in the U.S., Europe, the Middle East, and Southeast Asia. Additionally, Uzum is considering tapping international bond markets with a $300 million debut sale as early as the first half of 2026. This strategy reflects growing investor interest in Central Asia's digital market.
