Aug 5, 06:16 AM

Tencent Backs Uzum in $66 Million Round at $1.5 Billion Valuation

Uzbekistan’s e-commerce and fintech group Uzum has raised $65.5 million in an all-equity round co-led by China’s Tencent and London- and New York-based VR Capital, lifting the three-year-old company’s post-money valuation to roughly $1.5 billion. Additional backing came from FinSight Capital. Uzum, which operates an online marketplace, digital bank and express delivery service, says it now serves 17 million monthly active users and 16,000 merchants. The firm reported $250 million in gross merchandise value during the first half of 2025, up 50 percent from a year earlier, and booked $150 million in net income for 2024. Management plans to launch deposit products next month, open its platform to international sellers from China and Turkey, and seek a larger Series B financing of up to $300 million in 2026. In a separate funding move, Atlanta- and Hyderabad-based Jeh Aerospace secured $11 million in a Series A round led by Elevation Capital, with follow-on support from existing investor General Catalyst. Founded in 2022, the startup produces flight-critical components and tooling for global aircraft makers and has already locked in $100 million of long-term supply contracts. The fresh capital will be used to expand manufacturing capacity, hire additional staff and further develop the company’s software-driven production technology.

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Written with ChatGPT .

Tencent Backs Uzum in $66 Million Round at $1.5 Billion Valuation

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