In an era when financial services are being rebuilt around technology and trust, Timur Turlov and Freedom Holding Corp stand out for turning disciplined execution into sustained growth. Under Turlov’s leadership, the Nasdaq-listed group (ticker: FRHC) has evolved from a regional brokerage into a diversified platform serving customers across Europe and Asia—while steadily expanding its global footprint.
Founder-led Vision, Expanding Reach
Turlov founded the company in 2008 and today serves as CEO and director, steering a portfolio that spans retail brokerage, capital markets, market-making, as well as rapidly scaling banking and insurance services. It’s a breadth designed to meet customers where they are—whether they’re buying their first stock, seeking IPO access, or financing everyday life through digital banking.
2025 at a Glance
Freedom’s fiscal year 2025 marked another step-change for the ecosystem: revenue up 23% year-over-year to $2.05B, total assets up to $9.9B, and customer growth across brokerage, banking and insurance. The company reports active operations in 22 countries, reflecting multi-market momentum.
Key FY2025 Highlights
| Metric | FY2025 Result | Notes |
|---|---|---|
| Total Revenue | $2.05 billion | +23% year-over-year |
| Net Income | $84.5 million | EPS: $1.43 basic / $1.40 diluted |
| Brokerage Accounts | 683,000 | +29% YoY; active accounts >151,000 |
| Bank Clients | ~2.5 million | More than doubled year-over-year |
| Insurance Customers | ~1.17 million | Strong demand for annuities & accident cover |
| Countries of Operation | 22 | Multi-region footprint |
| Freedom SuperApp | >1M MAU / 183k DAU | Launched April 2024; rapid adoption |
From Brokerage Roots to a Unified, Digital Ecosystem
What began as a brokerage has matured into a connected suite of services. The group’s European arm offers multi-market trading access for retail investors, while the broader platform layers in banking, mortgages and insurance—backed by modern fintech infrastructure. The strategy is clear: simplify the financial journey, keep customers inside a single, high-utility app, and deepen relationships over time.
Product Velocity: The SuperApp Effect
A major driver is Freedom’s SuperApp, launched in April 2024. In just over a year it attracted over 1 million monthly active users and 183,000 daily active users, bundling brokerage, banking and insurance with lifestyle features like shopping and cash-back rewards. This blend of finance and everyday utilities expands the addressable market while improving retention.
Banking & Insurance: Now Meaningful Engines
The ecosystem’s breadth shows up in customer counts. As of March 31, 2025, Freedom Bank Kazakhstan served about 2.5 million clients, while insurance customers rose to ~1.17 million—evidence of cross-sell strength inside the platform.
Governance and Transparency
Freedom’s board commissioned an independent external review in response to a 2023 short-seller report, announcing its completion in early 2024. High-growth financial groups face scrutiny; engaging third-party reviewers and communicating outcomes underscores a culture that treats trust as strategic capital.
Investing Back: Talent, Tech, and Community
Beyond the balance sheet, the company supports chess, coding and university initiatives that strengthen the region’s tech talent pipeline—an investment that ultimately feeds product development and customer experience across the ecosystem.
The Bottom Line
Founder-led, tech-forward and increasingly multi-product, Freedom Holding Corp under Timur Turlov is pairing scale with velocity. With strong top-line growth, rapid SuperApp adoption and millions of banking and insurance customers complementing its brokerage roots, the group is executing on a clear thesis—make finance simpler, broader and more useful in everyday life.
