Freedom Holding Corp. (FRHC): Marketing Mix Analysis [Dec-2025 Updated]

You're looking to cut through the noise and see exactly how Freedom Holding Corp. (FRHC) is positioning itself for the next cycle, and honestly, their four P's tell a clear story: they are aggressively transforming from a traditional broker into a full-blown digital ecosystem. This isn't just talk; by late 2025, they've pushed brokerage accounts to 776,000 and pulled in $2.05 billion in total revenue for Fiscal Year 2025 by weaving in banking, insurance, and even telecom. If you want to see the concrete moves-from the Freedom SuperApp distribution to how they are pricing their diverse offerings-dive into the breakdown below; it shows a strategy that's defintely working for client acquisition.

Freedom Holding Corp. (FRHC) - Marketing Mix: Product

You're looking at the tangible offerings from Freedom Holding Corp. (FRHC), which is rapidly evolving past traditional financial services into a full-stack digital ecosystem. The product development here centers on integration and scale, making sure that once a customer enters any part of the ecosystem, they have a clear path to use the others.

Unified digital ecosystem via the Freedom SuperApp

The core of the product strategy is the Freedom SuperApp, which launched in April 2024. This application is designed to be the single point of access for a wide array of services. Within its first year of operation, the SuperApp surpassed 1 million monthly active users and maintained over 183,000 daily active users. The platform integrates several key offerings, including investing, banking, payments, and lifestyle services, all accessible through one interface. As of September 30, 2025, the total customer count across the entire ecosystem stood at 6.2 million people.

Core financial services: brokerage, banking, and insurance products

The foundation of the product suite remains the three primary financial pillars, all feeding into the SuperApp. You see strong performance metrics across these segments from the fiscal year ended March 31, 2025:

• Fee and commission income from brokerage services reached $505 million.
• Insurance underwriting income was $617.6 million, marking a 134% increase year-over-year.
• Freedom Bank KZ, the banking arm, reported revenue of $506.1 million.

The growth in the client base is evident in the banking segment, where Freedom Bank KZ customers grew to approximately 2,515,000 as of March 31, 2025. The company is actively cross-selling these services; for instance, the insurance segment saw its customer base increase from 534,000 to 1,170,000 during fiscal 2025.

Brokerage accounts reached 776,000 as of September 30, 2025

The brokerage division shows direct, quantifiable growth in its user base, which directly impacts fee and commission revenue. The number of retail brokerage customers increased significantly year-over-year:

This growth contributed to a $30.6 million increase in fee and commission income for the three months ended September 30, 2025, compared to the same period in 2024.

Diversification into lifestyle and telecom (e-commerce, ticketing, Freedom Telecom)

Freedom Holding Corp. is deliberately moving beyond pure finance, using acquisitions to build out the lifestyle component of the SuperApp. The 'Other' segment, which captures these non-core financial services, saw its revenue jump 72% to $144 million in fiscal year 2025. Key components driving this include:

• Freedom Telecom: Expansion into telecommunications was solidified with the acquisition of Astel Group Ltd. on April 30, 2025, for $22.6 million.
• E-commerce and Ticketing: Ventures like the e-commerce platform Arbuz and the ticketing service Aviata contribute to this segment.

The company is operating in 21 countries as of late 2025.

Investment in AI and digital infrastructure to enhance service offerings

To support the long-term vision of the ecosystem, Freedom Holding Corp. is making substantial capital commitments to digital infrastructure. A major initiative announced in November 2025 involves developing a $2 billion Sovereign AI Hub in Kazakhstan. This hub will be powered by sovereign exascale NVIDIA AI infrastructure and is planned for a site with 100 MW of available power. This project positions Freedom Holding Corp. as a principal financing and implementation partner in accelerating AI development in Central Asia. Furthermore, the company completed construction of a fintech research centre at SDU in Almaty during 2025.

Freedom Holding Corp. (FRHC) - Marketing Mix: Place

You're looking at how Freedom Holding Corp. gets its financial ecosystem into the hands of its customers-it's a mix of digital dominance and targeted physical reach. Their distribution strategy is built around a core geographic anchor with global market access.

The operational footprint for Freedom Holding Corp. spans 21 countries as of September 30, 2025. The clear center of gravity for these operations is Kazakhstan, which remains the main market driving the business.

Distribution is heavily skewed toward digital channels. The primary vehicle for bringing integrated services to the customer is the Freedom SuperApp. This platform acts as the central point of access, combining brokerage, banking, and insurance services into a single mobile ecosystem. By late 2025, this app had surpassed 2 million users for its integrated solutions, showing the effectiveness of this digital distribution point.

Still, the physical network supports this digital push. As of September 30, 2025, Freedom Holding Corp. maintained a physical presence with 232 offices globally. These offices house various services, including 42 dedicated to brokerage, 60 for insurance, 31 for banking, and 99 for other financial and non-financial services.

Global market access is secured through listings on key exchanges, which is a critical component of the 'Place' strategy for an investment firm. You can find their common stock trading on:

• NASDAQ Capital Market
• KASE (Kazakhstan Stock Exchange)
• AIX (Astana International Exchange)

This multi-exchange presence allows Freedom Holding Corp. to serve clients across different regulatory and geographic zones efficiently. Here's a quick look at how the distribution channels break down by type:

The geographic expansion strategy is clearly mapped to leverage regional strengths. The company has a strong base in Central Asia, using subsidiaries to penetrate markets like Uzbekistan and Kyrgyzstan. Europe is served via hubs like Cyprus (acting as an EU gateway) and direct presences in countries including Poland, Spain, Germany, and Lithuania, which is leading Baltic expansion. The U.S. presence, established partly through the acquisition of Prime Executions, Inc., provides a direct foothold in North America.

The physical office breakdown by service type shows a balanced approach to supporting the ecosystem:

• Brokerage Services Offices: 42
• Insurance Services Offices: 60
• Banking Services Offices: 31
• Other Financial/Non-Financial Services Offices: 99

It's a defintely integrated approach, using the SuperApp for scale and physical locations for specialized service delivery.

Freedom Holding Corp. (FRHC) - Marketing Mix: Promotion

You're looking at how Freedom Holding Corp. frames its story to the market, which is heavily centered on its expanding digital ecosystem narrative in public communications. This strategy ties together its diverse financial and non-financial services, making the SuperApp central to its value proposition.

The commitment to Environmental, Social, and Governance (ESG) principles is a clear promotional pillar, backed by substantial financial outlay. For fiscal year 2025, Freedom Holding Corp. directed a total of $57.6 million, or 27.87 billion tenge, toward external ESG-oriented investments. These funds supported projects across education, technology, sports, disaster relief, and climate programs.

Strategic technology investments are used to position the brand as a forward-thinking leader. This is exemplified by the agreement to develop a $2 billion Sovereign AI Hub in Kazakhstan, powered by NVIDIA AI infrastructure, announced in November 2025. Also, a partnership with OpenAI was established to finance the deployment of ChatGPT Edu to 165,000 educators in Kazakhstan, making the country one of the first globally to implement this at a national level.

The promotion of the integrated ecosystem is supported by concrete user metrics and strategic acquisitions. The company highlighted having 2 million SuperApp users and over 11 million total ecosystem users as of late 2025. To bolster the ecosystem, Freedom Holding completed the acquisition of Astel Group Ltd. for $22.6 million in April 2025, integrating the largest independent fixed-line operator in Kazakhstan.

Here's a quick look at the scale of the ecosystem components as of the end of fiscal year 2025 (March 31, 2025) or Q1 FY2026 (June 30, 2025):

Regarding advertising expenses in the brokerage segment, the data shows a recent scaling back, not an increase, for one reported period. For the three months ended June 30, 2025, advertising and sponsorship expenses in the Brokerage segment actually decreased by $3.7 million. Still, for the first quarter of fiscal year 2026 (ended June 30, 2025), total company advertising and sponsorship expenses were $24.5 million, which the company viewed as strategic contributions.

A major boost to institutional visibility came from index inclusion. Freedom Holding Corp. was selected for inclusion in the Russell 3000® Index as part of the 2025 annual reconstitution, effective after the U.S. market closes on June 27, 2025. This index measures the performance of the largest 3,019 U.S. companies, representing approximately 98% of the investable U.S. equity market. This recognition is intended to enhance visibility among institutional investors, like those tracking the iShares Russell 3000 ETF (IWV) and the Vanguard Russell 3000 ETF (VTHR), which together have more than $18 billion in assets under management.

Key promotional investment figures for the period include:

• Total external ESG-oriented investments (FY2025): $57.6 million
• Investment in SDU University AI facility (FY2025): $2.73 million (1.32 billion tenge)
• Investment in $2 billion Sovereign AI Hub (announced Nov 2025)
• Advertising and sponsorship expenses (Q1 FY2026): $24.5 million

Freedom Holding Corp. (FRHC) - Marketing Mix: Price

The pricing element for Freedom Holding Corp. is reflected in the substantial revenue generated across its diversified financial services, particularly through interest income and fee structures, which represent the price customers pay for credit and transactional services.

Total revenue for Fiscal Year 2025 was approximately $2.05 billion. This top-line figure reflects the aggregate pricing realized across all service offerings.

Revenue is highly diversified across four segments, as evidenced by the following revenue contributions for the fiscal year ended March 31, 2025:

Key components of the realized pricing power and customer payments include:

• Fee and commission income reached $505.0 million in FY2025, marking a 15% increase from the prior year.
• Substantial interest income of $864.5 million from margin lending and bank loans in FY2025.
• Insurance underwriting income surged to $617.6 million in FY2025, a 134% increase year-on-year.

The interest income of $864.5 million was driven by a 21% increase in margin loan interest and an 18% growth in interest from customer loans at Freedom Bank KZ, indicating the pricing structure for credit products was successfully scaled.

The fee and commission income of $505.0 million was primarily fueled by a 29% increase in income from brokerage services, reaching $430.1 million, which reflects the pricing applied to brokerage transactions and services for an expanding retail customer base.