Uzbek ecosystem Uzum expects to continue attracting international investors, including from the US, and considers issuing Eurobonds in late 2026 or early 2027. The company calls an IPO a milestone rather than a final goal: Uzum intends to become Uzbekistan’s first public tech company.
Uzum co-founder and chief strategy officer Nikolay Seleznev shared this in an interview with Bloomberg TV, UzDaily reports. He said the company is expanding unsecured lending, which requires significant funding.
Over the past year and a half, Uzum has received investments from China, the US, and Gulf countries. In March 2026, the company closed strategic investments totaling over $130 million led by Oman’s sovereign entities: $81.5 million in equity and $50 million in convertible financing. The pre-money valuation target was $2.3 billion. According to Seleznev, Chinese Tencent’s stake in Uzum’s capital will not hinder attracting American investors.
Bonds and credit lines
Seleznev said the company may return to issuing Eurobonds late this year or early next year.
On Uzbekistan’s domestic market, Uzum has placed 2.1 trillion soums (about $178 million) in bonds since 2025 and, according to Bloomberg, became the country’s largest private corporate bond issuer. The Eurasian Development Bank, as Bloomberg reports via Oninvest, increased Uzum’s financing to $100 million from $70 million under the original agreement signed in May.
Finteqstan notes that Eurobonds and new US investors will test whether Western capital markets are ready to finance Central Asian tech companies.