Kaspi.kz Expands Shareholder Base with Tencent Investment: Driving Growth and Innovation in Kazakhstan and Türkiye
Kaspi.kz, a leading company in Kazakhstan, has recently announced the purchase of 6.0 million American Depositary Shares (ADSs) from Baring Fintech Venture Funds by Tencent, Kaspi.kz Co-Founder and CEO Mikheil Lomtadze, senior management team members, and long-term institutional investors. Mikheil Lomtadze expressed his excitement about Tencent becoming one of the largest shareholders of Kaspi.kz and highlighted the company's strong belief in its Super App business model and growth prospects. Additionally, Spice Expeditions and U.S. university endowments have also joined as long-term shareholders, signaling a promising future for Kaspi.kz as it expands its market presence in Kazakhstan and Türkiye.
Kaspi.kz's core mission is to enhance people's lives through innovative mobile products and services. The company operates a unique two-sided Super App model that caters to over 25 million consumers and 900 thousand merchants in Kazakhstan and Türkiye. In Kazakhstan, the Super App offers a wide range of services including payments, e-commerce, fintech, travel, and government services, driving high user engagement with 77 monthly transactions per active consumer. In Türkiye, Kaspi.kz holds an 86% stake in Hepsiburada, a prominent e-commerce platform in the country. With its listing on Nasdaq since January 2024, Kaspi.kz continues to solidify its position as a market leader in the region.
The recent transaction involving the purchase of ADSs from Baring Fintech Venture Funds by Tencent, Mikheil Lomtadze, and other key stakeholders underscores the confidence in Kaspi.kz's business model and growth trajectory. The addition of new long-term shareholders, including Spice Expeditions and U.S. university endowments, further strengthens the company's position and sets the stage for continued success in the evolving digital landscape. As Kaspi.kz looks ahead to expanding its operations and market reach, the strategic partnerships and investments will play a crucial role in driving innovation and delivering value to customers in Kazakhstan and Türkiye.