Kaspi.kz has announced that it has completed its acquisition of controlling interest in Hepsiburada.

Mikheil Lomtadze, CEO and co-founder of Kaspi.kz, commented:

“We are excited to be joining forces with Hepsiburada, one of the leading ecommerce companies in Türkiye. Expanding our addressable market to 100 million people has been an important strategic priority for Kaspi.kz. Like Kaspi.kz, Hepsiburada is a highly entrepreneurial company and home-grown ecommerce champion, built by a visionary founder.”

Hanzade Doğan, Founder of Hepsiburada, commented:

“My vision for Hepsiburada has always been one of sustainable growth and increased value creation. Kaspi.kz, with its focus on improving people’s lives through innovative solutions and status as a NASDAQ listed company, is the ideal partner to help Hepsiburada deliver on the next phase of its growth.”

Kaspi.kz and Hepsiburada will maintain distinct brands and operating structures.

Kaspi.kz purchased the shares for total consideration of approximately $1,127 million, of which $600 million was paid in cash.

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