Kaspi.kz intends to buy a majority stake in Turkish electronic communications platform Hepsiburada for $1.1 billion

Founded in 2000, Hepsiburada is the leading electronic communications platform in the country. It operates with a hybrid model, which combines the direct sale of its own products and the market format, where more than 264 million products are placed in more than 30 categories, recalls Tech.eu.

The company serves about 12 million active customers and partners, including about 101.5 thousand sellers, making it one of the largest e-commerce platforms in the region.

Kaspi.kz, whose shares are listed on the Kazakh stock exchanges and NASDAQ, signed a binding agreement for the transfer of 65.4% of the shares of group A and B of the Hepsiburada project with the founder and majority shareholder of the Hanzade platform Dogan and his colleagues.

Kaspi.kz CEO and co-founder Mikhail Lomtadze hopes to expand his audience, share experiences and calls Hepsiburada “an ideal cultural addition due to its innovative culture, its focus on providing high-quality services to consumers and partners, and their commitment to a long career”. long-term sustainable growth.

Upon completion of the transaction, both companies will retain their respective brands and organizational structures. The founder and chairman of the board of directors of the Turkish project believes that the new partnership “will certainly strengthen Hepsiburada’s position in our e-commerce sector thanks to Turkey’s trust and investment potential.”

The share transfer deal will require administrative approvals in Türkiye.