Company Overview

Joint Stock Company Kaspi.kz is a Kazakhstan-based financial technology and digital ecosystem company that operates across payments, marketplace, and consumer financial services. The company combines a mobile “super app” platform with banking, e-commerce, and payments infrastructure, serving consumers, merchants, and small businesses primarily in Kazakhstan. Kaspi.kz operates in the fintech, digital payments, e-commerce, and consumer finance industries, with revenue primarily generated from payments processing, marketplace services, lending products, and fintech-related fees and commissions.

The company’s core business lines include Payments Platform, Marketplace Platform, and Fintech Platform operations. Its products include digital wallets, QR and point-of-sale payments, consumer loans, buy-now-pay-later products, deposits, merchant tools, and e-commerce services. Kaspi.kz has positioned itself as one of the dominant digital consumer platforms in Kazakhstan through high mobile engagement, integrated financial and commerce services, and broad merchant acceptance. The company traces its origins to the privatization and development of Kaspi Bank in the 1990s and evolved into a technology-led platform business during the 2010s under a strategy focused on mobile-first digital services.

Business Operations

Kaspi.kz organizes its activities primarily through three operating segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform enables digital transactions through mobile payments, QR payments, merchant acquiring, and peer-to-peer transfers. The Marketplace Platform facilitates e-commerce transactions between consumers and merchants, including online retail offerings, ticketing, and digital services. The Fintech Platform includes consumer finance products such as installment loans, personal loans, deposits, and other banking-related services. Revenue is generated through transaction fees, commissions, interest income, marketplace sales activity, and financial services operations.

The company’s operations are concentrated primarily in Kazakhstan, though it has pursued selected international initiatives and investments. Kaspi.kz controls a substantial domestic payments and digital banking infrastructure integrated through its mobile application ecosystem. Key assets include its proprietary mobile platform, merchant network, consumer finance capabilities, and regulated banking operations through Kaspi Bank. Public disclosures and investor materials also reference strategic acquisitions and investments intended to expand digital capabilities and regional reach, although certain operational details regarding international expansion remain limited in publicly available filings.

Strategic Position & Investments

Kaspi.kz’s strategy has focused on expanding its integrated digital ecosystem by increasing engagement across payments, commerce, and financial services. Growth initiatives have included scaling merchant adoption, increasing digital transaction volumes, broadening consumer lending products, and enhancing marketplace offerings. The company has emphasized ecosystem integration, aiming to keep users within a unified application for commerce, payments, and financial activities. This integrated platform model has been a major differentiator within the Kazakhstan market.

The company has also pursued acquisitions and investments to support long-term growth and regional diversification. Public disclosures have identified investments connected to international expansion efforts, including activity related to Türkiye-based e-commerce platform Hepsiburada, although integration and long-term strategic outcomes continue to evolve. Kaspi.kz has highlighted technology development, artificial intelligence-driven personalization, and digital financial infrastructure as areas of ongoing investment. Data regarding certain emerging technology initiatives remains limited or evolving based on available public sources.

Geographic Footprint

Kaspi.kz is headquartered in Almaty, Kazakhstan, and maintains its strongest market presence within Kazakhstan, where it serves millions of consumers and merchants through its digital ecosystem. The company’s services are deeply integrated into Kazakhstan’s retail payments and e-commerce environment, with significant adoption among both urban consumers and small-to-medium-sized businesses. Its operational influence is strongest across Central Asia through its domestic leadership position.

Beyond Kazakhstan, Kaspi.kz has explored selective international investments and partnerships intended to broaden its regional exposure. Publicly available information indicates strategic interest in neighboring and adjacent markets, particularly through investments connected to Türkiye. While the company is publicly traded internationally and maintains relationships with global investors, its operational revenues remain predominantly tied to Kazakhstan-based activities according to recent public filings and investor disclosures.

Leadership & Governance

Kaspi.kz leadership has been closely associated with its transformation from a traditional banking institution into a technology-driven digital ecosystem company. The company’s governance structure includes executive leadership with backgrounds in finance, technology, and digital commerce. Strategic direction has consistently emphasized mobile-first services, ecosystem integration, customer convenience, and high-frequency consumer engagement through digital channels.

Key executives include:

• Mikhail Lomtadze – Chief Executive Officer and co-founder
• Vyacheslav Kim – Chairman and major shareholder
• Aidar Akhanov – Head of the Fintech Platform
• Maksat Kabashev – Chief Financial Officer
• Nikolay Pomeshchenko – Senior executive associated with technology and operational development

Leadership communications in public filings and investor presentations emphasize long-term digital ecosystem expansion, disciplined capital allocation, and continued innovation in payments, commerce, and financial services. Governance disclosures are primarily available through SEC filings, annual reports, and investor relations materials.