On April 17, Freedom Holding Corp. announced the acquisition of ChessBase, one of the world’s oldest and largest providers of chess software, analytics and data.
The company aims to strengthen its market position by expanding AI use and integrating the platform into its digital ecosystem, with planned investments of around €5 million.
Ecosystem integration and team retention
According to Freedom Holding Corp. CEO Timur Turlov, ChessBase is a strong brand with a rich history.
«Our collaboration will not only strengthen the platform’s position among professional chess players but also open up new opportunities, as more than 11 million of our clients across 20 countries will gain direct access to the platform,» Turlov said. He added that the company, together with ChessBase’s founding team, plans to modernize and expand the platform’s functionality.
Turlov also emphasized that the investment will be used to enhance the platform’s technological capabilities. The company’s headquarters will remain in Hamburg, with no layoffs or changes to the core team expected in the near term. Instead, the company plans to expand its operations and hire additional staff as needed.
ChessBase GmbH, founded in Hamburg in 1986, develops and sells chess databases, analytical software, training tools and online services for players. It also operates a major chess news platform under the same name. Its database is considered an industry standard and is widely used by professional players worldwide. The company remains one of the most recognized brands in professional chess training.
Support for intellectual sports
Turlov is actively involved in developing the chess industry. Since January 2023, he has served as head of the Kazakhstan Chess Federation, and in September 2024, he became head of the International School Chess Federation. The holding company invests more than $15 million annually in promoting the game. In recent years, Kazakhstan has strengthened its position as a venue for major international chess tournaments.
In February, Freedom Holding Corp. reported $1.7 billion in revenue for the first nine months of fiscal year 2026. The company is also exploring opportunities to open new banks in Armenia and France and is in the process of acquiring a commercial bank in Turkey.
The company provides financial services in 21 countries and manages more than $10 billion in assets. Its flagship application, SuperApp, combines banking, insurance, travel and grocery delivery services and has over 5 million users. Freedom Holding Corp. is listed on Nasdaq under the ticker FRHC, with a market capitalization of approximately $10 billion.
