Kyiv, October 11, 2021 – 4i Capital Partners, a leading private equity investment firm in Ukraine, has announced its full exit from Portmone.com, a leading online payment platform in Ukraine, to an LSE-traded Kaspi.kz JSC, the largest payments, marketplace and fintech ecosystem in Kazakhstan.
Portmone.com is the largest independent service of online payments and money transfers in Ukraine, offering a portfolio of proven IT payment solutions for banking, mobile, e-commerce and service industries. 4i Capital Partners invested in Portmone.com in October 2013. The company has significantly increased payment turnover since, covering a wide range of regular payments such as mobile top ups, housing and utilities, internet, insurance, tax etc. as well as card-to-card money transfers.
“We are very excited about this transaction because it shows that our strategy – of acquiring majority stakes in innovative and highly competitive local companies and building the topnotch management teams – works despite all impediments and major crises that we went through during our investment period” commented Alex Munteanu, Managing Partner and Founder of 4i Capital Partners. “I am very grateful to our partners – founders of Portmone and the company’s operational team for great contributions. Ukrainian market needs such an innovative investor as Kaspi.kz, and I am proud that they have chosen Portmone.com” Alex Munteanu concluded.
About 4i Capital Partners
4i Capital Partners is a private equity investment firm managing investments in Ukraine. The company’s principals have been making buyouts, expansions, restructurings and realizations in the region for over two decades. 4i Capital Partners was founded in March 2016 with the aim to capitalize on the opportunities resulting from the fundamental overhaul of Ukraine, one of the largest European countries. The investment team currently manages Europe Virgin Fund, with US$57 million of committed capital and instrumental support from the international finance institutions such as the European Bank for Reconstruction and Development, the Black Sea Trade and Development Bank, the Swiss Investment Fund for Emerging Markets and Dragon Capital.