Kaspi.kz Expands into Banking in Türkiye
Hey Digital Banking Fanatic!
Kaspi.kz has taken another step in building its ecosystem beyond Kazakhstan.
The company has completed the acquisition of Rabobank A.Ş., giving it a fully licensed bank in Türkiye. Coming after its investment in Hepsiburada, the deal adds another key piece to Kaspi's long-term strategy of combining commerce, payments, and banking under a single ecosystem.
This isn't just about entering a new market.
Owning a banking license gives Kaspi much greater flexibility to develop financial products directly, rather than relying on partnerships. As more digital banks and super apps expand internationally, acquiring licensed financial institutions is increasingly becoming the fastest route to scaling new markets.
There's much more waiting below.
As always, you'll also find how Nubank, Revolut, and SoFi are helping redefine the scale of digital banking, as six of the world's biggest FinTechs grew their combined revenue from $5 billion to $43 billion in just five years.
See what else is shaping Digital Banking. 👇 See you tomorrow!
Cheers,
INSIGHTS
📈 6 of the biggest FinTechs grew their combined revenue from $5B in 2020 to $43B in 2025 🤯
That's a 51% CAGR in five years. Here's how each one landed in 2025👇
NEWS
🇦🇪 RAKBANK and Mastercard strengthen strategic relationship to drive payments innovation. Building on their long-standing strategic relationship, the move reflects a shared commitment to developing secure and more seamless payment experiences that meet the evolving needs of consumers and businesses in an increasingly digital world.
🇹🇷 Kaspi.kz completes acquisition of Rabobank A.Ş. in Türkiye. The deal strengthens the FinTech's expansion strategy, enabling it to integrate digital banking, payments, and marketplace services alongside its majority stake in Hepsiburada and serve more than 25 million consumers and 900,000 merchants.
🇩🇪 Marcus W. Mosen steps down from the N26 management board following a leadership transition. A long-time shareholder and former Supervisory Board Chair, Mosen served as interim Co-CEO from September 2025, with CEO Mike Dargan now leading the next phase of the digital bank's growth.
🇮🇪 Monzo Europe racked up €29m of set-up losses ahead of the Irish launch last April, backed by a €71 million capital injection from its parent company. The digital bank is now preparing to expand into Spain later this year under the EU passporting regime.
🇦🇷 Tether invests $20 million in Argentina’s Ualá, expanding Latin America push. The investment will be used to accelerate growth and expand the company’s financial ecosystem. Read more
🌍 Jamie Dimon wants JPMorgan to have a great digital bank across Europe. Dimon said setting up the bank's platform in Europe had cost money, but as it expands to more products and countries, it could break even and then become "hopefully profitable".
🇦🇪 Mashreq launches NEO on arrival to provide instant digital banking for UAE international visitors. This service eliminates traditional paperwork, allowing travelers to manage UAE-based financial transactions, access virtual cards, and enjoy local banking benefits through a streamlined, mobile-first onboarding process.
🇺🇸 Lumin Digital raises $115 million in new capital to further invest in product innovation and reaches a $1.6 billion valuation. The digital banking provider said the capital will accelerate AI innovation and the expansion of its cloud-native banking platform, which now serves more than 8 million users.
🇦🇪 Revolut receives in-principle approval to provide crypto services in the UAE. Revolut intends to offer the virtual asset services covered by the approval in the UAE, namely broker-dealer, management and investment, and exchange services, through its retail app and standalone exchange, Revolut X.
🌎 Nubank names Livia Chanes CEO for Latin America while she continues as CEO of Nubank Brazil, overseeing the company's operations in Brazil, Mexico, and Colombia. The leadership expansion follows Nubank surpassing 135 million customers globally and strengthening its presence across Latin America.
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