Kaspi.kz
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Kaspi.kz - overview
Established
2002
Location
Almaty, -, Kazakhstan
Primary Industry
Financial Services
About
Established in 2002 and based in Almaty, Kazakhstan, Kaspi Bank JSC, doing business as Kaspi. kz, operates as a provider of payment infrastructure and banking services to both consumers and retailers. Mikheil Lomtadze is the company’s Chief Executive Officer and Chief Ecosystem Officer. In April 2026, Tencent Holdings Limited, a portfolio company of Lippo Group, Hillhouse Investment, IDG Capital, and PCCW, along with Spice Expeditions, University of Washington Endowment, University of Wisconsin System Trust Funds, and the company's management, acquired Kaspi.
kz from Goldman Sachs Asset Management and Baring Vostok Capital Partners. Financial terms were not disclosed. Kaspi Bank operates through three segments: Marketplace, Payment, and Fintech which are all available in a single platform for the customers to access. The Marketplace division includes the company’s e-commerce website and chain of retail stores that sell jewelry, books, cosmetics, smartphones, electronic gadgets, and car accessories.
The Payment division's offerings include bill payments and e-wallet services, Kaspi Gold debit card (for money transactions), peer to peer payments options, mobile payment application and also, point of sale solutions for third party merchants to accept payments from Kaspi. kz customers, as well as from other banks. The Fintech division includes the company’s mobile money transfer solutions and other payment infrastructure that are established to finance the clients by allowing them to make online payments for their purchases on the marketplace website. In the second quarter of 2021, the company generated a net income of USD 240.
39 million and revenue of USD 503. 03 million with a 54% year-on-year growth.
Current Investors
Baring Vostok Capital Partners, Goldman Sachs Asset Management
Primary Industry
Financial Services
Sub Industries
Bookstores, Consumer Electronics Stores, e-Financial, Accounting/Finance Software
Website
www.kaspi.kz
Verticals
E-commerce, FinTech, FinTech, FinTech, Mobile Apps
Company Stage
Mature
Total Amount Raised
Subscriber access only
Kaspi.kz - timeline of key events
Kaspi.kz - financials
| Fiscal Year Ended | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 26,528,683,000 | 75,601,915,000 | 135,997,435,000 | 141,575,631,000 | 154,422,921,000 | 140,765,849,000 | 180,148,816,000 | 263,447,000,000 | 370,449,000,000 | - | - | - |
| % Revenue Growth (YoY) | - | 185.0% | 79.9% | 4.1% | 9.1% | (8.8%) | 28.0% | 46.2% | 40.6% | - | - | - |
| EBITDA (USD) | 10,813,202,000 | 25,344,853,000 | 51,818,916,000 | 53,098,890,000 | 21,936,309,000 | 12,923,561,000 | 86,768,024,000 | 125,920,000,000 | 217,181,000,000 | - | - | - |
| Operating Income (USD) | 9,408,069,000 | 23,436,921,000 | 49,401,143,000 | 49,642,187,000 | 17,603,260,000 | 8,453,498,000 | 82,112,305,000 | 120,832,000,000 | 210,587,000,000 | - | - | - |
| Operating Margin | 35.5% | 31.0% | 36.3% | 35.1% | 11.4% | 6.0% | 45.6% | 45.9% | 56.8% | - | - | - |
| % EBITDA Margin | 40.8% | 33.5% | 38.1% | 37.5% | 14.2% | 9.2% | 48.2% | 47.8% | 58.6% | - | - | - |
| NET Income (USD) | 8,544,348,000 | 19,070,907,000 | 39,286,499,000 | 41,009,507,000 | 15,446,644,000 | 5,422,310,000 | 69,213,694,000 | 99,545,000,000 | 174,532,000,000 | - | - | - |
| % Net Margin | 32.2% | 25.2% | 28.9% | 29.0% | 10.0% | 3.9% | 38.4% | 37.8% | 47.1% | - | - | - |
Kaspi.kz - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | Kaspi.kz | - | ||||||||
| Add-on | Completed | D-Market Electronic Services and Trade, Inc. | - | ||||||||
| IPO | Completed | Kaspi.kz | - | ||||||||
| Add-on, Trade Sale | Completed | Portmone Group | - | ||||||||
| IPO | Completed | Kaspi.kz | - |
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Kaspi.kz - employee data
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