Freedom Holding Corp.: History and Development of International Holding
Freedom Holding Corp. - is an international investment holding company registered in Nevada, USA, with its head office in Almaty, Kazakhstan.
Freedom Finance provides a wide range of financial services, including brokerage, securities trading, asset management, investment banking, underwriting, mortgage lending, insurance and banking services.
Founding and early development
The company was founded in 2008 by Timur Turlov, an entrepreneur and investor who began his career in finance at the age of 16 A European subsidiary, Freedom Finance Europe, was established in 2013 and in 2015 received a full set of licenses from the Cyprus Securities and Exchange Commission (CySEC). The company rebranded in 2024 and now operates under the Freedom24 brand.
In 2015, Freedom Finance acquired a Kazakh bank, later renamed Freedom Bank Kazakhstan. In the same year, the company became a market maker of shares in Kazakhstan's national electricity grid operator KEGOC and conducted an IPO for Aktobe Metal Construction Plant.
Expansion of Freedom Finance and listing on
In 2017, Freedom Holding Corp. acquired Kazakhstan-based broker Asyl-Invest, strengthening its position in the local market. In 2018, the company entered the securities market of Uzbekistan, opening offices in eight cities of the country.
On October 15, 2019, Freedom Holding Corp. listed its shares on the Nasdaq exchange under the ticker FRHC, becoming the first broker from the CIS to enter this platform. Since then, the company's share price has increased significantly, reflecting investor confidence and steady business growth. The holding's shares are also traded on Kazakhstan's KASE and AIX exchanges. In 2024, the company's shares were included in the AIX Qazaq Index with a 15% share.
Acquisition Strategy and Diversification
Since 2020, Freedom Holding Corp. has been actively pursuing an acquisition strategy to expand its presence in international markets. In 2020, the acquisition of US broker Prime Executions, Inc. was finalized, marking the company's entry into the US market. Also, to strengthen the US division, LD Micro, a conferencing platform, was acquired in 2023
Freedom Holding Corp. is consistently developing the financial-technology ecosystem in Kazakhstan, uniting under a single brand the key services for everyday and investment decisions. This strategy allows for the creation of a new generation infrastructure, where the client gets access to all necessary services - from brokerage account to product delivery - within one platform.
Key companies in the Freedom Finance ecosystem in Kazakhstan
Financial and investment services
Freedom Bank Kazakhstan is a universal digital bank formed in 2020 after the acquisition of Kassa Nova Bank. It offers multi-currency and investment cards, online lending and digital mortgages.
Freedom Finance JSC - one of the largest brokers in Kazakhstan and a market maker in securities on KASE and AIX.
Freedom Finance Global PLC is a brokerage company registered in MFCA. It has a license to access international financial markets - NASDAQ, New York, London, Frankfurt, Hong Kong, Kazakhstan Stock Exchange and AIX, as well as access to IPO and options trading. In 2022, it obtained the Qualified Foreign Investor (QFI) certificate in China.
Freedom Insurance - insurance company including online car accident insurance.
Freedom Finance Life JSC - insurance company. Main lines of business: cumulative life insurance programs, overseas travel insurance and retirement annuities.
Digital and consumer services
Freedom Pay - online acquiring and payment service, one of the leaders of the fintech market in Kazakhstan.
Freedom Ticketon - the country's largest playbill and online ticketing system for cultural and sporting events.
Arbuz.kz - an online supermarket with delivery of groceries and everyday goods.
Aviata - leading online services for selling air tickets and travel services.
Freedom Telecom - a telecommunications company providing cellular communication services.
Since its founding in 2008, Freedom Holding Corp. has evolved from a regional broker to an international financial holding company with a presence in 22 countries. Thanks to its strategy of diversification, active expansion and focus on innovation, the company continues to strengthen its position in the global financial market.
Public company Freedom Finance Global PLC is registered in the Astana International Financial Centre (AIFC), Kazakhstan. The company provides brokerage (agency) services in the securities market. License AFSA-A-LA-2020-0019 issued by the AFSA AIFC. Investments in securities and other financial instruments always carry the risk of capital loss. This publication is for informational purposes only.