Kazakh Fintech Star Kaspi A Pandemic Bright Spot

With most staff working from home, the headquarters of Kazakhstan’s fintech hero Kaspi.kz exudes a sleepiness ill-fitting for a company whose rapid rise has been accelerated by the coronavirus pandemic.

Kaspi, Kazakhstan’s payment systems and e-commerce leader, became the Central Asian country’s most valuable firm after it was valued at $6.5 billion on the London stock exchange in October in what was the United Kingdom’s second largest float of this year.

The listing took commentators by surprise, coming after a failed attempt — falling short of a $4 billon market cap valuation — the year before.

But Kaspi’s Georgia-born CEO Mikheil Lomtadze, told AFP that the company and its investors, including Goldman Sachs and CIS-focused Baring Vostok — were not fazed by the false start.

“We believe that we have a lot of space for further growth, and we were not in any hurry to do our IPO,” said Lomtadze

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