Timur Turlov, the founder and CEO of Freedom Holding Corp., has made a significant impact on Kazakhstan’s financial landscape. His commitment to digitalization and innovation has positioned Freedom Holding Corp. as a leading player in the global fintech arena.
Kazakhstan: A Fintech Powerhouse
Turlov sees Kazakhstan as a prime location for fintech development, thanks to its advanced integration of business operations with public databases. “In Kazakhstan, we can issue a digital mortgage within a day at a fraction of the cost in the U.S.,” he notes, emphasizing the efficiency of the country’s digital infrastructure. This capability makes Kazakhstan a global leader in fintech services.
Building a Financial Ecosystem
Turlov’s vision began to take shape in 2012 when he saw the potential in Kazakhstan’s emerging stock market. He established Freedom Finance JSC, followed by Freedom Life and Freedom Insurance in 2014 and 2018, respectively. By 2020, Turlov had developed a comprehensive ecosystem that seamlessly integrates financial and lifestyle services for customers.
Strategic Expansion
Under Turlov’s leadership, Freedom Holding Corp. has grown rapidly. In 2020, the company launched Freedom Finance Global and Freedom Bank, offering innovative digital financial products and access to global markets. The company’s expansion continued with acquisitions like Ticketon, Freedom Mobile, Freedom Drive, Freedom Pay, Aviata.kz, Chocotravel, and Arbuz.kz, diversifying its service offerings.
Global Reach
Freedom Holding Corp. operates in 19 countries, including key markets in the U.S. and Europe. The company’s shares have been traded on Nasdaq since 2019, with a market cap exceeding $4 billion. Plans to open new offices in Turkey and the UAE reflect the company’s ongoing global growth strategy.
Social Responsibility and Community Impact
Turlov is dedicated to social responsibility, investing in numerous social, sporting, and ecological projects. As president of the Kazakhstan Chess Federation, he has promoted the sport and organized international tournaments. He also supports youth sports through the QJ League and educational initiatives like the IQanat residential school and the new SDU University campus.
Personal Life and Values
Despite his immense success, Turlov maintains a modest lifestyle, reinvesting profits into the business and community projects. “I’ve put all my money into the business,” he says, underscoring his dedication to growth and societal improvement. Turlov values family time, often traveling with his wife Elena and their six children.
Looking Ahead
Turlov envisions a future where Kazakhstan leads in digital innovation. He aims to enhance the country’s global internet ranking and expand Freedom’s financial ecosystem. His commitment to social projects and business innovation underscores his desire to create lasting positive change.
Timur Turlov’s leadership and vision have made him a pivotal figure in Kazakhstan’s fintech sector. His dedication to digital transformation, social responsibility, and family values sets a high standard for the industry. As Freedom Holding Corp. continues to expand globally, Turlov’s influence will shape the future of fintech and societal development in Kazakhstan and beyond.
