In 2008, amidst a global financial crisis, 21-year-old Timur Turlov founded an investment company with a clear mission: provide investors in Central Asia with access to U.S. markets. This bold move laid the foundation for Freedom Holding Corp., a diversified financial services group that made history in 2019 as the first from the region to list on Nasdaq. Headquartered in Kazakhstan, the company’s success is built on Turlov’s visionary leadership, a deeply integrated digital ecosystem, and a profound commitment to societal progress
Who is Timor Turlov?
Timur Turlov, a Kazakh entrepreneur born in 1987, has transformed his early interest in finance into a major global business empire. As founder and CEO of Freedom Holding Corp., he has overseen the company’s growth from a regional brokerage into a diversified financial ecosystem serving millions of clients across multiple continents.
From Brokerage to Ecosystem
Turlov founded Freedom Finance in 2008 when he was just 21, aiming to offer brokerage services and access to American stock exchanges. Over time, he expanded beyond traditional brokerage into banking, insurance, telecommunications, payments, lifestyle services, and more, unifying these functions into a coherent digital ecosystem.
A centerpiece of this evolution is the Freedom SuperApp, launched in April 2024. This platform seamlessly combines banking, brokerage, insurance, and lifestyle services such as booking flights and ordering groceries. This “digital gravity” principle has attracted millions of users, with the bank’s customer base soaring to over 2.5 million and brokerage accounts reaching nearly 700,000 in fiscal year 2025. By transforming clients into active stakeholders through innovative products, Freedom has built a formidable competitive advantage, using its home market of Kazakhstan as a “fintech incubator” to perfect a model for global export.
In little more than a year, the app has attracted over 1 million monthly active users and some 183,000 daily users, allowing customers to manage banking, insurance, investing, payments, and even lifestyle services in one place.
Strong Financial Performance
Under Turlov’s leadership, Freedom Holding has delivered solid financial results. In fiscal year 2025 (ending March 31, 2025), the company reported $2.05 billion in revenue, a 23% increase year-over-year. Total assets grew to nearly $9.9 billion, with strong customer growth across brokerage, insurance, and banking sectors.
Key metrics show momentum: fee and commission income rose by 15%, insurance underwriting income almost doubled (up 134%), and the number of bank clients more than doubled in one year in Kazakhstan.
Governance and Recognition
Freedom Holding has also improved its risk management and compliance. In June 2025, S&P Global Ratings upgraded the outlook of its key operating subsidiaries to “Positive,” reflecting strengthened governance, unified risk policies, and growing maturity in managing operations across 22 jurisdictions.
This recognition confirms that the company is not only scaling fast but also focusing on resilience and sound oversight.
Social Impact and Sustainable Growth
Beyond finance, Turlov has pushed Freedom Holding into socially responsible initiatives. The company supports education through its Freedom Academy, investments in financial literacy, and partnerships with universities, particularly in Central Asia. Also, environmental and community programs—such as recycling initiatives, support for youth sports, and contributions to preserving regional ecosystems—are part of its corporate foundation.
Beyond the balance sheet, Freedom Holding demonstrates a deep commitment to corporate citizenship, guided by Turlov’s philosophy that business success and societal progress are intertwined. The company has invested tens of millions in high-impact social initiatives, particularly in youth sports. As president of the Kazakhstan Chess Federation and a founder of the QJ League for youth football, Turlov has championed programs that nurture the next generation of talent.
Conclusion
Timur Turlov’s story is one of ambition, vision, and execution. By building Freedom Holding not just as a financial services provider but as an integrated digital-ecosystem, he has created significant value for customers, shareholders, and communities. The company’s growth in revenue, user base, geographies, and services—all while reinforcing governance and social responsibility—paints a picture of a modern enterprise that is innovating, scaling, and doing so with purpose.