Uzbekistan’s digital ecosystem Uzum is considering its first eurobond issuance by the end of 2026 or early next year, co-founder and Chief Strategy and Business Development Officer Nikolay Seleznev told Bloomberg TV in Dubai.
According to Seleznev, the company needs substantial funding to expand its unsecured lending business. Eurobonds remain one of the options under consideration, although the decision will depend on market conditions and timing.
“We are in a very good position: we need a lot of money to make money,” Seleznev said.
Since 2025, Uzum has issued bonds worth a total of 2.1 trillion soums on the domestic market, becoming the country’s largest private corporate bond issuer. The company recently increased financing from the Eurasian Development Bank from $70 million to $100 million under a loan agreement signed in May.
Uzum’s growth has previously been funded by private investments, including backing from China’s Tencent Holdings and sovereign wealth funds in Oman. In March, the company’s latest investment round valued it at $2.3 billion.
Bloomberg also reported that Uzum plans to raise additional investment this year. In addition to a potential eurobond issuance, the company is considering an initial public offering (IPO).
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