How Its SuperApp Reached 6 Million Users and Fuels Growth
Over the past several years, Nasdaq-listed Freedom Holding Corp. has expanded well beyond its roots in brokerage, building a broader ecosystem that now spans financial services and a growing range of consumer businesses.
By June 30, 2026, Freedom Holding said it had more than 8.7 million customers. Of these, 5.447 million were in the banking segment, 874,000 in brokerage, 924,000 in insurance, and another 1.498 million across other business lines.
Freedom Holding also uses a broader measure of its ecosystem reach. For the fiscal year ended March 31, 2026, the company estimated the ecosystem’s audience at more than 14 million people, including customers of partner companies.
Within the ecosystem, financial products sit alongside services designed for everyday consumer needs. These include Freedom Bank, brokerage and insurance services, payments, Freedom Travel, Ticketon, the Arbuz grocery delivery service, telecommunications, media, cloud services, automotive services, household and healthcare services, and eSIM services. Some businesses within the ecosystem are owned by partners and are not directly controlled by the holding company.
SuperApp as an Entry Point
One of the main tools connecting these services is Freedom SuperApp. The company uses it as a way to attract customers, give them access to different products and encourage them to use more services across the ecosystem. Freedom’s founder and CEO, Timur Turlov, has described the SuperApp as one of the key drivers of growth in the customer base.
The SuperApp has grown rapidly since its launch. It had just 107,000 registered users in April 2024, but by the end of June 2026, that number had surpassed 5.677 million, and by September 2026, it had exceeded 6 million.
A particularly sharp increase came after Freedom introduced a referral program. Registrations jumped from 536,000 in January 2025 to 1.317 million in February, more than doubling in just one month.
Of course, registrations do not necessarily translate into regular use. Even so, the SuperApp has built a sizeable active audience. By the end of June 2026, it had around 2.4 million monthly active users and 465,000 daily active users.
The app’s audience also extends well beyond traditional brokerage customers. Women account for 55% of users and men for 45%. The largest age group is users aged 36–50, who make up 27% of the audience, followed by those aged 25–35 at 25%. Another 20% are between 18 and 24 years old.
Geographically, users in Almaty account for 26% of the app’s audience, followed by Shymkent at 20% and Astana, the capital, at 16%.
The significance of that audience goes beyond its size. Once customers are inside the SuperApp, Freedom can introduce them to other products and services across the ecosystem without having to attract them separately to each business.
The Economics of Cross-Selling
The model is meant to do more than bring in new users. Once customers are inside the ecosystem, Freedom Holding Corp. can offer them additional products and services without having to acquire them all over again.
In its quarterly filings, the company says that combining customer data across its businesses helps it tailor offers more closely, speed up onboarding and cut down on manual processes. Freedom argues that this can reduce acquisition costs while also encouraging customers to stay longer and use more of its services. (ir.freedomholdingcorp.com)
The company illustrates this process using internal data on the customer journey. After registering, a customer may first obtain a payment card, then begin using other ecosystem services, make purchases and transfers, and eventually open a deposit account. Freedom notes that this sequence is illustrative rather than a complete or universal customer journey.
More concrete evidence comes from individual consumer businesses.
In online grocery delivery, the SuperApp has become the main source of new customers. Its share of unique customers rose from 39% in July 2025 to 91% by June 2026. By then, 91% of payments were also being made using Freedom’s own payment tools.
Over the same period, the number of orders grew 2.3-fold year over year, while the number of new customers increased 2.5-fold.
At Ticketon, the share of customers coming from the SuperApp reached 66% by June 2026, compared with 21% in July 2025. By March 2026, more than 60% of the service’s transactions were already being processed through Freedom’s ecosystem channels.
The strongest integration is evident in the travel business. Over the course of a year, Freedom Travel attracted more than 500,000 new customers and expanded its customer base 2.5-fold. In June 2026, 85% of the service’s unique customers came through the SuperApp, while 90% of purchases were made through the application.
According to the company, in the first quarter of 2026, one in every five airline tickets for domestic flights in Kazakhstan was sold through Freedom Travel.
These figures do not allow the financial impact of cross-selling to be measured directly. They do, however, show that the SuperApp is becoming an increasingly important channel for directing customers to different businesses across the group.
Exporting the Kazakhstan Model
Having developed the ecosystem primarily in Kazakhstan, Freedom Holding is now beginning to test whether the model can be replicated abroad.
On July 31, 2026, the holding company completed the acquisition of a 99.32% stake in Turkish Bank, which is expected to serve as a foundation for expanding the group’s ecosystem in Türkiye.
In Europe, Freedom Holding applied for a banking license in France and said it was prepared to invest around €500 million over five years in developing a digital bank and related infrastructure.
In the longer term, the company is also considering the United States. After raising $300 million through a share offering, Turlov said Freedom eventually planned to bring the ecosystem model developed in Kazakhstan to the U.S. market. The U.S. could prove an even more demanding test of the strategy, as Freedom would have to compete with financial-services and technology platforms that already operate at significant scale.
International expansion will therefore test more than Freedom’s ability to enter new markets. It will show to what extent the company’s SuperApp-led growth model depends on the specific characteristics of the market in Kazakhstan – and whether the same combination of customer acquisition, cross-selling and loyalty incentives can succeed in Europe’s more mature market competitive and tightly regulated financial markets.
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