In September 2025, Kaspi.kz sold Portmone Group, the owner of the payment service of the same name in Ukraine, which Kaspi had acquired in 2021. Although no details of the deal were disclosed, it is known that the Kazakh fintech company did not earn much from the sale. This information was revealed in Kaspi’s 2025 annual report.
According to Kaspi.kz, Portmone’s net assets approximated the fair value of the consideration received; therefore, the deal was neither profitable nor unprofitable.
In 2021, Forbes Ukraine reported that the acquisition of Portmone could have cost Kaspi.kz approximately $15 million.
At the time, Kaspi.kz aimed to enter the online payments market in Ukraine. The deal allowed the company to obtain a payment license and accreditation with Visa and Mastercard in the country. The company also noted that in the medium term, Ukraine could become an important source of developers and a launch site for an IT hub.
According to KASE, Kaspi.kz is controlled by Baring Funds (23.22%), Mikhail Lomtadze (22.58%) and Vyacheslav Kim (20.74%).
Portmone was founded in 2002 by Igor Gorin as a service for online utility payments. Over time, it evolved into a broader payment platform for P2P transfers, telecommunications and other services, as well as providing acquiring services for businesses. In 2019, the company reported over 5 million active users and 100 million transactions per year.
