[TechUkraine news] Kaspi to buy BTA Bank Ukraine and launch Super App financial service

Kazakhstan’s largest financial technology firm Kaspi.kz has signed a purchase agreement to buy Ukraine’s subsidiary of Kazakh BTA Bank, according to the company’s financial statement published on Oct. 25.
  • According to Forbes Ukraine, the transaction could cost up to $9 million, according to the managing partner of one of the Ukrainian financial companies familiar with the transaction details.
  • BTA Bank is Kaspi’s second purchase in Ukraine. In July, the company acquired Ukraine-based online payment service Portmone, a transaction estimated at $10-15 million by Ukrainian investors.
  • With BTA Bank’s banking license and Portmone’s payments licenses, Kaspi could launch its Super App financial service in Ukraine. Nearly 11 million people out of Kazakhstan’s population of 18.5 million already use this service.
  • With this mobile application, users can pay for utility bills, transport, internet and television, education, and health services; it also works as a marketplace, messenger, mobile bank and service for navigation in the city.
  • Kaspi could compete with Ukraine’s first mobile bank Monobank and e-commerce platform ROZETKA by combining financial technology services and electronic commerce.