Freedom Finance Ecosystem: Investing in the Digital Future

Freedom Finance has expanded its ecosystem in Kazakhstan by venturing into telecommunications. While traditionally known for financial services, telecom has now become a strategic priority.

In today’s world, digital infrastructure isn’t just a value-add — it’s the foundation of everything. Without powerful communication channels, it is impossible to develop cloud technologies, fintech, investment services, AI solutions, and even cybersecurity.

Why did Freedom enter telecom and what has already been done?

“At the time we decided to enter the telecommunications market, Kazakhstan ranked around 100th in the world for fixed internet speed. We felt we deserved a much higher ranking — and knew we could get there,” says Timur Turlov, founder of Freedom Finance.

“Freedom Finance took an unconventional route—rather than acquiring an existing operator, the company built the infrastructure from the ground up. This gave it control over quality, speed of deployment, and construction costs.”

“At some point, we realized that being just an operator wasn’t enough. We needed to build a full-fledged digital ecosystem. So we started laying more fiber, doing it faster and more cost-effectively, and discovered it brought synergy to our entire business,” explains Timur Turlov.

• 2,500 km of fiber optic communication lines (FOCLs) have been laid

• 147 Freedom Wi-Fi points providing high-speed Internet access

• 24,000 households connected — and this is just the beginning

• Network construction costs are 50% lower than those of competitors

• Estimated B2B market share potential: 50%

“We weren’t aiming to simply enter the market — we wanted to build alternative infrastructure that meets the highest global standards,” says one of the telecom division leaders. “Kazakhstan can become a powerful digital hub for the region, and we’re working to make that a reality.”

But it’s not just about faster internet — the next step is building data centers and an international fiber-optic hyper-backbone.

• TIER-3 level data centers will enable secure, local data storage and processing, positioning Kazakhstan as a regional tech hub

• The fiber optic backbone will allow for the transit of international traffic between Europe and Asia

• Freedom Finance’s investment in these projects will total 100 billion tenge

“Our data centers will enable local content storage, attract global IT companies, and make Kazakhstan a regional tech hub. We’ve signed a memorandum with the Ministry of Digital Development and are ready to move forward,” confirms Turlov.

Financial Performance: Strong Growth Across All Business Segments

In February, Freedom Holding reported strong Q3 FY 2025 results, showing solid growth across all core businesses.

“Our goal is to build a business that’s resilient, even in the most challenging conditions. We’ve already proven we can do more than just turn a profit — we can develop entire markets,” emphasizes Timur Turlov.

Key indicators for the holding’s business lines:

• Banking: $206.4 million (+47%), 1.407 million clients

• Brokerage services: $213.3 million (+29%), 618,000 accounts

• Insurance: Record growth of +106%, $197.8 million in revenue, 972,000 clients

• Lifestyle and other areas (payments, e-commerce, telecom, marketplace): +120% growth, $37.7 million in revenue

In the first three quarters of FY 2025, Freedom Holding has already earned over $1 billion in revenue.

Key takeaway:

While Freedom Finance was once primarily a brokerage company, it has since evolved into a diversified business, with banking and insurance now leading the way.

Freedom Bank: The Heart of the Ecosystem

“We’re not just building a bank — we’re building the financial system of the future, where customers can handle everything in one place,” says Timur Turlov.

Recent growth in customer trust is reflected in the bank’s latest performance:

• Deposit portfolio has exceeded $2 billion

• SuperApp — an all-in-one platform integrating ecosystem services — now has over 800,000 active users

• Client base is growing at a record pace: +70,000–80,000 new users each month

“Freedom Bank customers don’t just save money — they get access to investments, insurance, and cutting-edge tech. This is more than just a bank,” says the holding’s CEO.

Freedom Coin: A New Philosophy of Investment

Freedom’s digital currency introduces a new investment model:

• 10,000 Freedom Coins = 1 FRHC share

• Value grows alongside the stock, which trades on NASDAQ

• No capital gains taxes

• Integrated with the SuperApp for seamless saving and investing

“We showed people that investing can be easy. With cashback, you’re actually buying shares. Freedom’s digital currency isn’t just money — it’s a new way to manage wealth,” says Turlov.

Insurance: Rapid Growth for Freedom Life and Freedom Insurance

“We proved the entire process can be simple, digital, and convenient. Everything’s online now — no office visits required,” notes a Freedom Insurance representative.

Key developments:

• Freedom Insurance was the first in Kazakhstan to offer AI-powered auto insurance damage assessment

• Freedom Life launched a savings life insurance product with an investment component

• Client base has exceeded 972,000, and insurance revenue reached $197.8 million

Brokerage Services: Growth, Innovation, and Tradernet

In Q3 2025, brokerage revenue hit $213.3 million (+29%), with 618,000 active accounts.

“When we started, there were only a few thousand brokerage accounts in Kazakhstan. Now we have hundreds of thousands. People are truly interested in investing — and we gave them the tools to make it easy and accessible,” says Timur Turlov.

“We’re not just building a trading platform — we’re creating a full financial ecosystem. It has everything: analytics, risk management, automated investments, and global market access,” he adds.

What’s new and upcoming in Tradernet:

• AI-powered analytics delivering personalized stock and ETF recommendations

• Direct access to IPOs — giving clients the chance to invest in major global listings

• Deep bank integration — enabling instant transfers between brokerage and banking accounts

• Crypto trading functionality currently in testing

“We implemented algorithms in Tradernet to support even first-time investors,” Turlov explains. “You’re not just buying shares — you’re getting tailored insights, risk tools, and portfolio diversification.”

Freedom’s brokerage clients are actively trading on U.S., European, and Asian markets, while the company remains the top player on Kazakhstan’s KASE and AIX.

Smart Use of AI Across the Ecosystem

“AI isn’t just a buzzword — it’s a multiplier for efficiency,” says Turlov.

Freedom uses AI to:

• Forecast market movements

• Assess insurance and banking risks

• Automate KYC and compliance checks

Freedom’s Lifestyle Business: An Ecosystem for Everyday Life

“We’re not just building a financial company. We’re building an ecosystem for modern living. It’s about more than investments and banking — it’s about technology, convenience, and comfort,” says Turlov.

Key lifestyle and e-commerce platforms:

• Arbuz.kz – Kazakhstan’s largest grocery and household goods marketplace

• Freedom Ticketon and Aviata – leaders in online ticketing and travel booking

• Freedom Pay – a payment solution fully integrated with Freedom Bank and ecosystem services

“When we acquired these companies, they were promising startups. Now they’re nationwide digital platforms, empowered by Freedom’s technology,” explains the holding’s leader.

Arbuz.kz is now a leading e-commerce brand. Ticketon and Aviata continue expanding by integrating services like travel insurance, hotel booking, and loyalty programs.

Freedom Pay has also evolved:

“We created a payment system that’s deeply embedded into the Freedom ecosystem. Customers can shop, book, earn bonuses, and invest — all in one seamless experience,” says Timur Turlov. It also features biometric authentication and AI-based fraud detection, making payments both fast and secure.

Freedom is building more than just a financial holding — it’s creating a system where every service adds value to the others. This is the ecosystem of the future.

“We’re building the future,” emphasizes Timur Turlov.