Added to YB: 2026-07-08
Pitch date: 2026-07-06
KSPI [neutral]
Joint Stock Company Kaspi.kz
Author Info
No bio for this author
Company Info
Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine.
Market Cap
$8.1T
Pitch Price
N/A
Price Target
N/A
Dividend
8.02%
EV/EBITDA
3.18
P/E
7.63
EV/Sales
1.79
Sector
Consumer Finance
Category
growth
7 Powers Moat Analysis: Kaspi - Kaspi.kz
KSPI (overview): Kazakh Super App w/ 15.7M consumers (~78% of country's payment txns), closed-loop network bypassing Visa/MC. Winner-take-most via network effects, 0.95% QR merchant fees undercutting banks' 2.5-3%. 77 monthly txns/user, 6-sec loan approvals, 2% cost of risk. 24B txn data moat, dominant brand.
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