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

By The Kyiv Post / July 28, 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.

Topics: E-payments, Finance, International, M&A, News, Payments & fintech

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Launched in 1995, Kyiv Post is Ukraine’s leading English-language newspaper, produced by a team of Western and Ukrainian journalists. Over the years, the weekly newspaper has led the charge for a free press in Ukraine, and has played roles in the Georgiy Gongadze scandal, the Orange Revolution and other significant Ukrainian events. The Kyiv Post’s IT coverage is sponsored by Looksery, Ciklum, Steltec Capital and SoftServe. The content is independent of the donors.

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