Kaspi.kz: The Kazakh Super-App - [Business Breakdowns, EP.204]

This is Business Breakdowns. Business Breakdowns is a series of conversations with investors and operators diving deep into a single business. For each business, we explore its history, its business model, its competitive advantages, and what makes it tick. We believe every business has lessons and secrets that investors and operators can learn from, and we are here. to bring them to you.

To find more episodes of breakdowns, check out joincolossus.com. All opinions expressed by hosts and podcast guests are solely their own opinions. Hosts, podcast guests, their employers, or affiliates may maintain positions in the securities discussed in this podcast. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. I'm Zach Fuss and today we are breaking down Caspi, a leading financial technology company based in Kazakhstan.

best known for its super app. Caspi plays a central role in the lives of millions of Kazakh citizens by offering a seamless ecosystem that combines payments and digital wallets, e-commerce, and financial services. Its success is often attributed to its ability to solve pain points specific to the Kazakh market, such as low financial inclusion and limited access to traditional banking infrastructure. This approach has made Caspi not just a technology company, but an integral part of the country's economic fabric. To truly appreciate the story of Caspi, you must also learn the story of Kazakhstan, a country of twenty million people with a GDP of $260 billion.

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