KAZAKHSTAN: JSC Kaspi.kz, which operates the Kaspi.kz Super App, Kazakhstan’s leading mobile Super App, today announced that it has received all necessary regulatory approvals and completed the acquisition of 100% of Portmone Group, a payments company operating in Ukraine.
Mikhail Lomtadze, Kaspi.kz CEO and co-founder, commented: “With its payments licenses and substantial merchant and bank relationships, the acquisition of Portmone will allow Kaspi.kz to enter the Ukrainian market. The combination of high cash usage, high smartphone penetration and a population of 42 million, means Ukraine offers a substantial, multi-year digital growth opportunity. We believe Kaspi.kz, with its high-quality mobile products and Super App strategy can make a difference to the everyday lives of Ukrainian consumers and merchants.”
The consolidation of Portmone Group does not affect Kaspi.kz’s previously communicated 2021 financial guidance and is not expected to have any material impact on the group’s 2021 financial results.
Kaspi.kz’s mission is to improve people’s lives by developing innovative mobile products and services. At our core is the Kaspi.kz Super App, the leading mobile app in Kazakhstan.
The Kaspi.kz Super App serves as a single gateway to Payments, Marketplace and Fintech Platforms and is an integral part of our users’ daily lives. As people’s lives become increasingly digitalised, Super App usage is expected to grow supported by accelerating adoption of cashless payments, e-Commerce and digital financial services.