Tencent-Backed Fintech Uzum Plans New Funding Round by Year-End

Uzbek fintech company Uzum, which has backing from major investors like China's Tencent Holdings Ltd., is gearing up for another round of funding by the end of the year. This move is part of their strategy to fuel rapid growth and prepare for a potential IPO. Given the increasing global interest in fintech innovations, especially in rapidly developing markets like Uzbekistan, this funding round is significant as it underscores the company's ambition to expand its services and solidify its position in the financial technology sector.