There are many successful entrepreneurs in the world, rippling through various industries and fields, leaving significant marks. Among them, stands an individual hailed from Georgia – Mikhail Lomtadze. He is known for his spectacular and inspiring journey in a financial industry with his iconic venture, KASPI.kz. Not many people are aware of the incredible facts about his life, and thus this article will provide an enlightening exploration of his path.

1. Mikhail’s Early Life

Mikhail Lomtadze was born and brought up in Georgia. This part of the world is known for its ancient culture, great wines, and beautiful landscapes. His early experiences in Georgia have played a significant role in his perception of business. In fact, his Georgian roots are still evident in his approach to work where he blends efficiency and innovation seamlessly.

Despite having moved on to different geographical locations in terms of his professional journey, Lomtadze often reminisces about his upbringing and how it contributed to his idiosyncratic approach towards entrepreneurship. His formative years instilled a certain grit in him that later became a pillar of his ventures.

2. Academic Excellence

Mikhail Lomtadze has always been academically inclined. He is a graduate from Harvard Business School and also holds an MBA degree from this prestigious institution. His educational journey at Harvard played a crucial role in shaping his business acumen and analytical skills.

He didn’t just pass out with a degree from Harvard but also made noteworthy contributions while being a student there. His academic accomplishments at Harvard provided a solid foundation for his future business endeavors, and the lessons learned have aided in making insightful business decisions.

3. Founding Baring Vostok Capital Partners

Before making a name in the FinTech industry, Mikhail Lomtadze co-founded Baring Vostok Capital Partners, one of the leading private equity firms in Russia and the former Soviet Union. Advancing the company’s footprint in the region was his immediate goal and he was successful in making the company one of the renowned names in the industry.

In his leadership role at Baring Vostok, Lomtadze managed over $3.7 billion in investments, with his focus primarily on finance, technology, telecommunications, and energy. Through his wise and strategic decisions in investments, he significantly boosted Baring Vostok’s overall achievements.

4. Brilliance in FinTech Space

One of Mikhail Lomtadze’s most outstanding contributions has been in the FinTech industry. He co-founded KASPI.kz, one of the fastest growing FinTech platforms in the world. The platform is famous for its unique and innovative approach to financial services, providing a simple and convenient way for people to bank, shop, and pay online.

Lomtadze’s idea to digitalize financial services revolutionized the market in Kazakhstan and other Central Asian countries. As of now, KASPI.kz has millions of users and has set a new standard for financial technologies in the region.

5. Successful IPO

Mikhail Lomtadze led KASPI.kz to a successful IPO on the London Stock Exchange in October 2020. Against the backdrop of a global pandemic, this feat showcased his indomitable spirit and significant leadership skills.

The listing generated great investor interest and the company was valued at a whopping $6.5 billion, making it one of the largest technology listings in London in recent years. Lomtadze’s exceptional leadership qualities were highlighted in this successful venture.

6. Philanthropic Efforts

Unlike many entrepreneurs who solely focus on their businesses, Mikhail Lomtadze extends his responsibilities towards society. He actively participates in various philanthropic activities and uses his resources to give back to the community.

He believes in contributing to a better future and thus, he generously supports various charitable foundations. These efforts show his humane side, which is as notable as his professional accomplishments.

7. Recognition and Awards

Due to his relentless contributions in the business and financial fields, Mikhail Lomtadze has earned several prestigious accolades. In 2019, Forbes named him as the richest person in Georgia. This recognition not only showcases his financial success but also his hard work and determination.

Including multiple other recognitions, Mikhail’s name was listed in the 100 most influential people in the FinTech industry, truly solidifying his reputation as an influential figure in the financial technology sector.

8. Technological Innovations

Mikhail Lomtadze doesn’t shy away from taking calculated risks in the technology domain. He adopts innovative technology trends in his business operations, which has led KASPI.kz to become one of the leading players in the FinTech sector.

His technological innovations don’t stop at only creating impact within his business; they fundamentally change the way people interact with finance. It is evident that his entrepreneurial journey is strongly tied to technology and innovative solutions.

9. Management Style

One notable feature of Mikhail Lomtadze is his management style. He strongly believes in teamwork and works closely with his colleagues to bring out the best results. His collaborative approach has significantly contributed to the overall development and success of his enterprises.

Instead of resting solely on his laurels, he relies heavily on a cooperative spirit and is quick to share credit. Such a humble and open management style encourages employee contribution and generates a positive working environment.

10. Visionary Approach

Mikhail Lomtadze’s success can be attributed to his visionary approach. In an industry that is often rigid and entangled in traditional practices, he stood out by being progressive and futuristic. His ability to foresee potential trends and adapt to them has been key to his success.

He embodies the traits of a forward thinker, making substantial leaps towards a digital future. His vision for a simple and accessible financial world is truly transforming the FinTech scene in Central Asia.

Undeniably, Mikhail Lomtadze’s journey is fraught with inspiring chapters that highlight his tenacity, entrepreneurial artistry, and vision. His rich heritage of resilience combined with his dynamic innovations offers a thrilling tale of entrepreneurship that continues to inspire many.

For more information, please visit

KASPI.kz at London Stock Exchange
Forbes Global 2000 List
Mikhail Lomtadze on Bloomberg
KASPI.KZ official website