Timur Turlov, CEO of Freedom Holding Corp., has expanded his stake in the Kazakhstani auto-tech startup CTOgram to 41%, signaling a strategic move towards integrating it into a larger digital ecosystem.
Information on the Target
CTOgram is an innovative auto-tech startup based in Kazakhstan, focusing on creating a digital interface that connects car owners with service providers. The platform allows users to find trustworthy repair shops, schedule maintenance appointments, and access post-accident services, boasting a user base of over 280,000 and a partner network of more than 2,000 auto workshops. CTOgram also operates its own chain of fast-repair body shops that specialize in restoring vehicles following traffic incidents, catering to a high-demand niche in the automotive service market.
The startup recently underwent a significant restructuring in its ownership, with CEO Zhandos Tursumbayev transitioning part of his stake to Timur Turlov, founder and CEO of Freedom Holding Corp. Turlov now holds 41% ownership of CTOgram after acquiring shares from several early investors, which positions the company for strategic growth and development.
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Industry Overview in Kazakhstan
The auto-tech industry in Kazakhstan is evolving rapidly as digital transformation takes center stage across various sectors. The increase in smartphone penetration and internet
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Timur Turlov
invested in
CTOgram
in 2023
in a Buyout deal
Disclosed details
Transaction Size: $2M
Enterprise Value: $14M
Equity Value: $14M