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Nasdaq-listed Freedom Holding Corp. continues to build its growth strategy in Europe, viewing the banking sector as a key part of its growth strategy. The company considers obtaining a banking license in France - a step that could significantly strengthen its position in the European market.
Nasdaq-listed Freedom Holding Corp. continues to build its growth strategy in Europe, viewing the banking sector as a key part of its growth strategy. The company considers obtaining a banking license in France - a step that could significantly strengthen its position in the European market.
CEO of Freedom Finance Europe, the holding company’s European arm, Evgeny Tyapkin, notes that the company aims to move beyond the traditional brokerage model. According to him, the next stage of development in Europe involves not only expanding the brokerage business but also building a comprehensive financial ecosystem. The company aims to move beyond the traditional brokerage model. He explained that the next stage of development in Europe would involve not only expanding the brokerage business but also building a broader client ecosystem. He added that the company plans to focus on multiple areas, beginning with banking services, as part of this expansion.
France is seen as one of the most promising markets for obtaining a banking license. Moreover, French authorities have shown interest in the company: Freedom was invited to participate in an annual meeting with foreign investors and has received support from institutions in recent months.
Tyapkin notes that banking services naturally complement the brokerage business, allowing the company to broaden its product offering and deepen customer engagement.
According to the company, founder and CEO Timur Turlov has indicated that Europe is becoming a strategic priority, noting that the group is building infrastructure to offer a full range of financial services within a single ecosystem, with a banking license seen as a logical next step.
Currently, Freedom Finance operates in Lithuania, Poland, Germany, the Netherlands, France, Spain, Italy, Greece, and Bulgaria, with its European headquarters in Cyprus. In each country, the company relies on local teams and products adapted to national markets. Future interesting markets also include Portugal, the Czech Republic, Hungary, and Romania.
Armenia: High Entry Costs and a Cautious Strategy
Alongside its European expansion, Freedom Holding Corp. is exploring opportunities to enter Armenia’s banking market. However, the company faces several structural constraints.
Partner at Freedom Holding Corp., Vladimir Pochekuev, explains that obtaining a new banking license in the country is currently difficult: the regulator is not issuing new licenses, which automatically increases the value of existing banks.
Minimum capital requirements for a bank in Armenia are around $80 million, while the cost of existing banks often exceeds $100 million.
Despite this, the company continues discussions with the regulator and is exploring potential acquisition targets. At the same time, Freedom already has a strong presence in the country, ranking among the top 50 largest taxpayers.
The Freedom Ecosystem: From Broker to “Super App”
Despite active international expansion - with the company now present in more than 21 jurisdictions - Kazakhstan remains its core market in terms of number of clients.
It is here that a full ecosystem is being developed, including brokerage services, banking products, insurance, and digital services. At the center of the strategy is the development of a “super app” combining financial and lifestyle services.
The ecosystem approach will be the foundation of future growth, Timur Turlov believes.
“Our goal is to create an environment in which the client can solve most of their financial and everyday tasks. This is the key to long-term loyalty and business scalability,” Timur Turlov said.
Freedom Travel: A Bet on the Global Market
Meanwhile, the Freedom Travel division is preparing for large-scale expansion. According to CEO Igor Boyko, the company plans to first establish strong positions in the local market and then enter Europe.
Freedom Holding Corp. is pursuing an ecosystem approach, offering users a full range of services within a single platform. Freedom Travel plans to launch an aggregator for hotels, transfer services, excursions, curated tours, and visa processing. The company intends to compete with Booking and Airbnb through better pricing and integration with financial services.Freedom Travel’s international expansion strategy coincides with the recovery of the global tourism sector.
Overall, Freedom Holding Corp. is building a diversified strategy: banking expansion in Europe, cautious entry into Armenia, and development of a global ecosystem with a focus on lifestyle services. The addition of a travel segment may become one more important driver of the company’s future growth on the international stage.
The content has been authored in collaboration with our guest contributor, Daniel Harper.
