I've been looking at Kaspi on the back of a video interview done by Monish Parbai and wanted to get peoples thoughts.
It's like a wechat, but for Kazakhstan and also the equivalent of Amazon.
There are 3 segments:
\- Payments - they take a cut of all transactions using their network, both personal and business.
\- marketplace - kind of like amazon
\- fintech - consumer finance and loans
They have also recently brought a large share in a Turkish conpany which is kind of like the amazon of Turkey. The company is looking to also to expand payments in Turkey.
Also when I say amazon of Kazakhstan or Turkey - it's probably an exaggeration at this point but the easiest way to explain there business.
There is, of course, the credit and regulatory risk and also the risk that what worked in Kazakhstan might not work in Turkey.
I'm looking at it from a long term 3-5 years as opposed to short term.