Early Life
Mikhail Lomtadze was born on October 17, 1975, in Batumi, Georgia. He earned a BBA degree from the European School of Management in Georgia in 1997 and an MBA from Harvard Business School in 2002.
Rise to Success
Lomtadze began his career by founding Georgia Consulting Group Audit in 1995. In 2002, he sold the firm and joined Baring Vostok Capital Partners as a project manager and later as a partner. He became a member of the board of directors of Caspian Bank in 2006 and chairman a year later. In 2011, he rebranded the bank as Kaspi. Kaspi.kz's IPO in October 2020 was valued at $6.5 billion.
Key Business Strategies
Lomtadze's strategic focus has been on digital transformation within the financial sector, particularly in Kazakhstan. He spearheaded the development of Kaspi.kz into a Super App, integrating e-commerce, payments, and financial services. This strategy has been central to Kaspi.kz's impressive growth, with over 7 million monthly users.
Philanthropy
Mikhail Lomtadze has supported Kazakh veterans, vulnerable children, and cultural events. He was awarded the Order of Kurmet in December 2012 for his contributions to Kazakhstan’s economy and banking system. In 2020, he received the People's Gratitude medal from the President of Kazakhstan for his contribution to the fight against the COVID-19 pandemic. In 2024, Lomtadze became a board member and partner of the English professional association football club Wycombe Wanderers F.C..
