About
Private capital for the real economy
iKapitalist builds infrastructure connecting private companies, investors and capital market professionals in Kazakhstan and Central Asia. Since 2019.
In brief: iKapitalist
iKapitalist Ltd. is an Authorised Market Institution of the Astana International Financial Centre (AIFC), licence AFSA-A-LA-2023-0005 for investment and loan crowdfunding platforms. Operating since 2019, Astana, Kazakhstan. ₸23.52bn has been financed through the platform across 478 deals, with more than 6,000 registered investors. Products: business loans up to ₸200m for retail investors (PLUS) and private bond placements up to $50m per 12 months for professional investors (PRO). Advisory: business sales, corporate advisory and the Capital Readiness Programme with the Kazakhstan Stock Exchange (KASE).
₸23.5bn
in loans and bonds issued through the platform
478
financed deals since 2019
6,000+
registered investors
AFSA licence
AFSA-A-LA-2023-0005: AIFC investment and loan crowdfunding platforms
What we do
Four roles in one market
Invest
Platform
Business loans for retail investors and private placements for professionals — on a licensed AIFC platform.
Raise
Capital
Loans up to ₸200m, bonds up to $50m per 12 months, equity through bespoke mandates.
Advise
Corporate finance
Business sales, exchange readiness with KASE, boards, strategy, operational management.
Execute
Transactions
We take a deal through to funding and handover — together with the iKapitalist Partners network.
History
A licensed AIFC platform since 2019
2019
Launch of the investment and lending platform. First business loans from retail investors.
2023
AIFC AFSA licence for investment and loan crowdfunding platforms. Transactions under English law.
2025
Over ₸20bn financed. Shift to secured lending and work with professional investors.
2026
iKapitalist PRO platform, Capital Readiness Programme with KASE, iKapitalist Partners network.
Regulation
Two companies under one brand
iKapitalist Ltd.
AIFC Authorised Market Institution (AMI). Licence AFSA-A-LA-2023-0005 — two regulated activities: operating an investment crowdfunding platform and a loan crowdfunding platform. Regulator — AFSA, the AIFC Financial Services Regulatory Authority; licence status can be verified in the public register.
iKapitalist Private Markets LLP
Advisory business: business sales, corporate finance, exchange readiness, operational management. Not an activity licensed by AFSA. The legal entity and terms are stated in the contract for each service.
Disclosure
Platform statistics — volume, number of deals, arrears, regulatory and commercial default, mediations — are published quarterly and available to every investor before deciding.
Independence principle
In the KASE programme, iKapitalist is an independent preparation operator and the exchange is the independent final filter. The company chooses its own providers; iKapitalist receives no fees from providers.
How we work
Our principles
Operating businesses
We don't finance start-ups: companies with at least 12 months in the market, revenue and a customer base; for advisory mandates — at least two years and revenue from ₸500m.
Full disclosure
For every deal, the investor sees the company, financials, collateral, structure and risks before deciding. The platform provides information, not a promise of returns.
Collateral
We are moving to secured and collateralised loans; for bonds — covenants and disclosure.
Clean reporting
We prefer companies with transparent accounts and ownership structure; an IFRS audit is needed to approach professional investors.
Success-based fees
On advisory mandates, most of the fee is paid when the deal closes, not for time spent.
Monitoring and recovery by the administrator
As deal administrator, the platform monitors payments, negotiates in case of arrears, and conducts mediation and recovery on behalf of investors.
How it works
How the platform works
01
Selection and due diligence
The platform selects company proposals and checks the data: tax and financial statements, credit report, constitutional documents. AFSA does not review or verify information about companies.
02
Publication
After due diligence, the investment proposal is published on the platform.
03
Investor decision
Registered investors review the deal data and make their own investment decision.
04
Freeze period
Once the full amount of applications is collected, a 48-hour freeze period applies: an investor may change or cancel the application free of charge and for any reason.
05
Contracts and transfer of funds
The platform prepares the contracts and other documents for signing by investors and the company, collects the funds and sends them to the company. Contracts are signed directly between the investors and the company.
06
Administration
During the term of the contracts the platform administers them: it processes payments and monitors the company's performance of its obligations.
Protecting investors
Late payments, default and changed circumstances
Late payments
The platform contacts the borrower, finds out the reasons for the delay and charges a penalty until the obligations are met.
Borrower default
If a payment is more than 90 days overdue, the deal status changes to default. The platform initiates an assignment of claims to start recovery on behalf of all investors.
Own recovery
An investor may choose not to take part in the assignment and pursue recovery themselves — the platform will provide all necessary deal information.
Notice of material changes
The platform informs investors of material changes in the borrower's circumstances through notifications in the personal account and, if necessary, an online meeting with investors.
Changes before contracts are signed
A vote is held among the deal participants. The deal continues if investors who applied for more than 90% of the financing amount agree; otherwise it returns to the fundraising stage.
Changes during the contract term
With the investors' consent, the platform may declare the company in default and demand early repayment of the loan.
Rules and reliability
Law, participant screening and business continuity
Governing law
Loan agreements between investors and borrowers are governed by English law, which applies in the AIFC under the Constitutional Law “On the Astana International Financial Centre”.
Anti-money laundering
All companies and investors are screened against more than 60 parameters, including asset freezes, tax arrears and pending litigation. Suspicious transactions are reported to the authorised financial monitoring body.
Business continuity
Backup servers, an investor communication plan and compliance with record-keeping and reporting requirements. If the platform ceases operations, investors receive direct access to borrowers' contacts, payment schedules and payment instructions so that repayments continue without the platform.
Contacts
Address
55/21 Mangilik El Ave., Block C4.2, Office 265Z05T3E5 Astana
Kazakhstan
Regulator — AFSA
If you believe the platform has breached regulatory requirements: 55/17 Mangilik El St., block C3.2, Astana+7 (7172) 64 73 71 · apd@afsa.kz