A Kazakh FinTech/LegalTech startup has secured $150,000 in seed investment from private investor Askhat Usmanov, valuing the company at $1 million, DKnews.kz reports.
The startup is the first platform in Kazakhstan that enables individuals and legal entities to formalize monetary and goods-based transactions through legally binding mediation agreements. Each transaction is backed by such an agreement, and in the event of a breach, users can obtain an Arbitration Award via the AIFC’s International Arbitration Centre. The project is partnered with IMC GLOBAL (International Mediation Centre), an official partner of the Astana International Financial Centre (AIFC).
“I chose to invest in this service because it brings transparency and fairness to the private lending market. It's a much-needed tool for anyone who deals with loans. I believe in the product and in the strength of the team — especially in its founder, Temir. His personal story showed me his vision and leadership,” said investor Askhat Usmanov.
In Kazakhstan, there's a financial "blind spot": an informal market of private loans based on handwritten agreements, often without legal standing and frequently ending in disputes. According to statistics, thousands of people lose money each year because they’re unable to prove the existence of a loan in court.
According to the founder, this startup directly addresses that issue. Deals made via the app are supported by mediation agreements with legal force. In case of default, the AIFC’s International Arbitration Centre can be swiftly involved, and the debtor’s accounts may be blocked under the mediation decision. The process is simple and doesn’t require a notary or legal professional — just a couple of taps and both parties are protected.
Founder Temir Aden says the idea came from his own personal experience.
“I’ve been cheated before — people didn’t pay back what they owed me, even with a signed note. I know firsthand how important trust and protection are in financial dealings. We created this platform so anyone can lend or borrow money without fearing for their rights or being scammed. In Kazakhstan, loans are often given to friends and relatives based on trust alone — and that’s exactly how obligations and even relationships fall apart. Our service acts as a neutral legal force that changes the rules of the game. The app also includes a rating system based on users’ real financial behavior, helping others understand how trustworthy someone is before engaging with them,” Aden explained.
The investment will be used to enhance development, strengthen the legal infrastructure, and launch a marketing campaign.
The app is currently in technical launch mode and is available on the App Store and Google Play. Within the first three months of release, the team plans to attract over 100,000 users.
