Kaspi completes capital increase at Hepsiburada

ISTANBUL

Kaspi, one of Eurasia’s leading technology companies, has completed a capital increase of 4.17 billion Turkish Liras ($97.6 million) at Turkish e-commerce giant Hepsiburada.

Earlier this year, Kaspi entered the Turkish market through a $1.1 billion investment, acquiring a majority stake in the e-commerce platform.

The capital increase was finalized following the authorization granted at Hepsiburada’s Extraordinary General Assembly meeting held on Nov. 17, officially raising the company’s paid in capital.

According to the announcement from the company, the newly secured funds will support Hepsiburada’s ongoing growth strategy and accelerate the development of digital tools and services offered to the tens of thousands of SMEs and retailers selling on the platform.

Mikheil Lomtadze, founder and CEO of Kaspi.kz and chairman of Hepsiburada, described the nearly $100 million capital injection as a strong signal of the company’s long-term commitment to Türkiye and Hepsiburada.

He emphasized the company’s mission: enabling Turkish SMEs to innovate, grow and compete with global players. “We aim to ensure that sellers on our platform have access to the best digital tools so they can confidently scale their operations,” Lomtadze said.

He added that Kaspi’s focus remains clear: “Empowering local businesses with better technology, as well as easier access to fintech, e-commerce and cashless payment solutions — ultimately helping them grow.”