Kaspi.kz Posts Strong Q3 Results, Announces Strategic Acquisition
Payment Business Drives Growth
Kaspi.kz, a leading fintech company in Central Asia, has released its third-quarter and nine-month financial results, showcasing robust growth across its payment and marketplace businesses. The company’s payment business continued to drive growth, with a 28% year-over-year increase in total payment volume (TPV), while revenue and net income rose by 25% each.
Marketplace Expansion Gains Momentum
The company’s marketplace business also demonstrated strong growth, fueled by changes in marketing campaigns implemented earlier this year. According to Mikheil Lomtadze, CEO and Co-Founder of Kaspi.kz, the company’s strategic shift in marketing efforts has been a key driver of growth in the marketplace segment.
Strategic Acquisition of Hepsiburada
In addition to its strong financial performance, Kaspi.kz announced its decision to acquire a controlling stake in Hepsiburada, a leading e-commerce platform in Turkey. This strategic move is expected to further expand Kaspi.kz’s presence in the region and provide new opportunities for growth.
Financial Highlights
- Total payment volume (TPV) increased by 28% year-over-year
- Revenue rose by 25% year-over-year
- Net income increased by 25% year-over-year
Leadership Perspective
“We are pleased with our strong performance in the third quarter, which reflects the success of our strategic initiatives,” said Mikheil Lomtadze. “Our acquisition of Hepsiburada marks an important milestone in our expansion plans, and we look forward to leveraging this opportunity to drive further growth.”
Future Outlook
With its strong financial performance and strategic acquisition, Kaspi.kz is well-positioned for continued growth and expansion in the region. As the company looks to the future, it remains committed to driving innovation and delivering value to its customers and stakeholders.
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