Tashkent, Uzbekistan (UzDaily.com) —  Uzum, the leading Uzbek fintech and e-commerce ecosystem, plans to raise US$300 million ahead of a potential initial public offering (IPO).

The company, which has doubled in size this year, intends to continue its expansion, with forecasts for further growth next year. To achieve this, Uzum plans to launch a Series B funding round to drive development and prepare for the IPO.

This year, Uzum has already raised more than US$100 million, which has allowed the company to be valued at over US$1 billion, making it the first Uzbek unicorn. Investors from the United States, the Gulf Cooperation Council (GCC) countries, and other international investors participated in the Series A funding round.

The company plans to conduct the Series B round in the second quarter of 2025, focusing on continued growth and a possible IPO. Among the options being considered are a dual listing on the UAE stock exchange and the Nasdaq in the United States.

According to Uzum representatives, the company hopes to raise up to US$300 million in Series B, which will facilitate continued preparation for the public offering.