v3.25.1
RELATED PARTY TRANSACTIONS
 12 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Year ended
March 31, 2025
Year ended
March 31, 2024
Related party balancesTotal category as per financial statements captionsRelated party balancesTotal category as per financial statements captions
ASSETS
Cash and cash equivalents$2,233 $837,302 $203 $545,084 
Companies controlled by management
2,233 203 
Restricted cash$30 $807,468 $— $462,637 
Companies controlled by management
30 — 
Investment securities
$1,174 $2,814,733 $1,326 $3,905,241 
Companies controlled by management
1,174 1,326 
Margin lending, brokerage and other receivables, net
$41,308 $3,319,145 $22,039 $1,660,275 
Management10,080 8,849 
Companies controlled by management
31,228 13,190 
Loans issued$188,445 $1,595,435 $147,440 $1,381,715 
Management291 117 
Companies controlled by management
188,154 147,323 
Other assets, net$18,080 $168,541 $5,257 $102,414 
Management486 — 
Companies controlled by management
17,594 5,257 
LIABILITIES
Customer liabilities$48,161 $4,304,999 $44,127 $2,273,830 
Management13,827 12,604 
Companies controlled by management
32,607 31,253 
Other
1,727 270 
Margin lending and trade payables$1,307 $1,322,241 $507 $867,880 
Management201 226 
Companies controlled by management
1,106 281 
Liabilities from insurance activity$5,960 $481,539 $470 $297,180 
Companies controlled by management
5,960 470 
Other liabilities$1,407 $129,737 $9,854 $81,560 
Management1,281 7,947 
Companies controlled by management
125 1,907 
Other
1 — 
Year ended
March 31, 2025
Year ended
March 31, 2024
Year ended
March 31, 2023
Related party amountsTotal category as per financial statements captionsRelated party amountsTotal category as per financial statements captionsRelated party amountsTotal category as per financial statements captions
Revenue:
Fee and commission income$4,725 $505,026 $65,972 $440,333 $199,235 $327,215 
Management1,062 935 806 
Companies controlled by management
3,655 65,035 198,428 
Other
8 2 1 
Interest income$1,731 $864,453 $24,941 $828,224 $23,191 $294,695 
Management924 665 18 
Companies controlled by management
807 24,276 23,173 
Insurance underwriting income$7,550 $617,596 $776 $264,218 $32 $115,371 
Management23 1 — 
Companies controlled by management
7,524 775 32 
Other
3 — — 
Expense:
Fee and commission expense$2,269 $346,074 $127 $154,351 $2,988 $65,660 
Management1 — — 
Companies controlled by management
2,268 127 2,988 
Interest expense$1,359 $535,895 $955 $501,111 $1,578 $208,947 
Management495 307 431 
Companies controlled by management
825 642 1,146 
Other
39 6 1 
Advertising and sponsorship expense$18,497 $124,627 $— $38,327 $— $14,059 
Companies controlled by management
18,497 — — 
As of March 31, 2025, the Group's brokerage and other receivables from PC ITS Central Securities Depository Limited, amounted to $29,693. PC ITS Central Securities Depository Limited is a private Kazakhstan-based company. It is a subsidiary of International Trading System Limited, a company controlled by Mr. Timur Turlov. The Company provides brokerage services to PC ITS Central Securities Depository Limited, including shares and bonds trading. As of March 31, 2025, the balance of brokerage and other receivables primarily relates to outstanding settlement amounts from these services.
As of March 31, 2024 , the Group's margin lending receivables from Fresh Start Trading Ltd, amounted to $12,890. Fresh Start Trading Ltd is a Cyprus-based company that was controlled by an individual who served on Freedom EU's management until November 5, 2024. From November 5, 2024, Fresh Start Trading Ltd. is no longer controlled by a related party. The Group's transactions with Fresh Start Trading Ltd mainly involved foreign currency trading activity. Margin lending receivables from Fresh Start Trading Ltd were mainly denominated in Euros, and were fully collateralized by cash denominated in U.S. dollars.
As of March 31, 2025 and March 31, 2024 the Group had loans issued which included uncollateralized bank customer loans purchased from FFIN Credit, a company outside of the Group which is controlled by Timur Turlov.
As of March 31, 2025 and March 31, 2024, 55% and 87% of the Group's total related party other assets were prepayment on the potential acquisition of A-Telecom to Freedom Data Centers LLP (formerly Freedom Telecom LLP) as part of our expansion in the telecommunications market in Kazakhstan and building a digital fintech ecosystem. Freedom Data Centers LLP is considered a related party based on the scale of economic transactions with the Group.
As of March 31, 2025 and March 31, 2024, 13% and 7%, respectively, of the Group's total related party customer liabilities were bank deposits from Turlov Family Office Securities LTD held by Freedom Bank KZ. Turlov Family Office Securities LTD is a private securities brokerage company that is wholly owned by Mr. Timur Turlov. As of March 31, 2025 and March 31, 2024, zero and 24%, respectively, of the Group's total related party customer liabilities were deposits of Fresh Start Trading Ltd held by Freedom EU related to brokerage services provided by our subsidiary Freedom EU to Fresh Start Trading Ltd.
During the year ended March 31, 2025 the Group incurred advertising and sponsorship expense from Kazakhstan Chess Federation in the amount of $11,222. Kazakhstan Chess Federation is a Kazakhstan-based company in which Timur Turlov holds a management position. The Group continues to support the development of chess as a sport in Kazakhstan. During the year ended March 31, 2025, the Group has made financial contributions to the Kazakhstan Chess Federation to support the preparation and holding of championships, tournaments, training camps and other events.