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$KSPI

Kaspi.kz
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Kaspi is a public organization providing financial services and e-commerce solutions.

sentiment mix
bull 100%bear 0%neu 0%

signal summary

latest thesis
Suarez points to Kaspi as the blueprint: single-country focus and NPS as sole metric▾

Kaspi showed you can build a fintech giant focused on a single country; PMs measured solely on NPS, no P&L, and ignored the equity market for 5-10 years. A case study that validates Addi's strategy in Colombia.

santiago suarezT2a16z2026-06-17
confidence 70 / 100impact Medium
key themes
  • AI Infrastructure50%
  • Macro & Rates50%
  • Fintech50%
  • Payments & Banking Infrastructure50%
  • Venture Capital50%

bull thesis · 2

84 / 100
  • •Hockey highlights Kaspi.kz as fascinating super-app combining banking, e-commerce, and government services in Kazakhstan
  • •Suarez points to Kaspi as the blueprint: single-country focus and NPS as sole metric

bear thesis · 0

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mentions · 2

a16zBuilding Enduring Companies Outside Silicon Valley | Santiago Suárez of Addi1 mentions · 1▲ 0▼ 0○ · 3 months ago
0:005:0010:0015:0020:00
Invest Like The BestHow to bet on yourself (without venture capital)1 mentions · 1▲ 0▼ 0○ · 6 months ago
0:005:0010:0015:0020:00