Timur Turlov
Timur Turlov: From a Brokerage Firm to an International Ecosystem
Timur Turlov, founder of Freedom Finance and CEO of Freedom Holding Corp., was born on November 13, 1987, and developed an interest in financial markets while still at school. At the age of 16, he began his career as a trader at World Capital Investments, where he gained his first practical experience in securities trading and stock market infrastructure. After earning a degree in economics, he continued working on solutions that provided clients with access to U.S. stock exchanges.
In 2008, Timur Turlov founded Freedom Finance. After entering the Kazakhstan market in 2012, the business began expanding beyond brokerage services. The group added a bank, insurance companies, payment products, e-commerce, and other digital businesses.
Since October 2019, Freedom Holding Corp. shares have been traded on Nasdaq under the ticker symbol FRHC. At the time of the listing, the holding company’s market capitalization was approximately $800 million, with shares priced at $14.42. In 2026, the share price reached $143.70, while market capitalization approached $9 billion.
Freedom’s payments business took shape following the acquisition of Paybox Technologies in February 2023, which was subsequently renamed Freedom Pay. Today, the service provides payment infrastructure for businesses, banks, and financial institutions, enabling online payment acceptance, internet acquiring, bank card processing, and mass payouts, while also helping businesses launch card products and develop payment services. Freedom Pay supports more than 15 payment methods and is one of the key components of the Freedom digital ecosystem.
In fiscal year 2026, the segments encompassing payment processing, online commerce, ticket sales, and travel services generated $172.8 million in revenue, accounting for approximately 8% of the holding company’s total revenue. Total revenue reached $2.19 billion, net income amounted to $153.3 million, and total assets stood at $13.16 billion.
In June 2026, Freedom announced that it had applied for a banking license in France. The holding company stated that it was prepared to invest up to €500 million in a digital bank and technology infrastructure, subject to regulatory approval.
Key milestones in development
2008
Incorporation of Freedom Finance and entry into the U.S. stock markets
2012
Entry into the market of Kazakhstan and expansion of the client base
2019
Creation of Freedom Holding Corp. and listing on NASDAQ
2021
Timur Turlov was included in the Forbes global rating with a net worth of USD 2.1 billion
2024–2025
Business expansion, including obtaining a banking license in Tajikistan and developing brokerage services in Turkey
2026
The share price reached $143.70, with market capitalization approaching $9 billion.
In June 2026, Freedom announced that it had applied for a banking license in France. The holding company stated that it was prepared to invest up to €500 million in a digital bank and technology infrastructure, subject to regulatory approval.
Key areas of the holding activities
brokerage services and stock trading in international markets
banking and financial services in countries of operation
development of online platforms for investors and traders
integration of advanced fintech solutions to provide more convenience for clients
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