Kazakh fintech giant to acquire Ukraine’s online payment service Portmone

02 September, 2021

Kazakhstan’s largest financial technology firm Kaspi.kz has signed a purchase agreement with Ukraine-based online payment service Portmone, according to financial statements Kaspi.kz published on July 26.

If Ukraine’s Antimonopoly Committee and the National Bank approve the acquisition, Kaspi Pay, a subsidiary of Kaspi.kz, will buy 100% of shares of Portmone Group. Kaspi.kz expects to finalize the deal in the final quarter of 2021.

The amount of the deal was not disclosed, but Ukrainian industry insiders say that Portmone could cost Kazakhstan’s fintech giant anywhere between $10-15 million.