JSC Kaspi.kz Kaspi.kz Completes Acquisition of Portmone Group (6261O)
11 October 2021 - 05:00PM
UK Regulatory
TIDMKSPI
RNS Number : 6261O
JSC Kaspi.kz
11 October 2021
Kaspi.kz Completes Acquisition of Portmone Group
Kazakhstan, 11 October 2021 - JSC Kaspi.kz ("Kaspi.kz", "we", or
the "Group") which operates the Kaspi.kz Super App, Kazakhstan's
leading mobile Super App, today announces that is 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.
About Kaspi.kz
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 our
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.
Kaspi.kz operates an Ecosystem business model, where the growth
and development of one service contributes to the growth and
development of other services, creating a powerful virtuous cycle.
Increasing usage of a growing number of services puts Kaspi.kz in a
strong position to keep innovating, delighting our users and
fulfilling our mission.
Kaspi.kz has been listed on the London Stock Exchange since
2020.
For further information david.ferguson@kaspi.kz +44 7427 751
275
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END
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