Kazakhstani startup Shart Rate has attracted $150,000 in investments at a valuation of $1 million

FinTech/LegalTech startup Shart Rate announces the raising of $150,000 in seed funding from private Kazakhstani business angel Askhat Usmanov at a valuation of $1 million.

Shart Rate is the first platform in Kazakhstan that enables monetary and commodity transactions between individuals and legal entities, securing them with a mediation agreement. Each transaction is backed by a mediation agreement, and in case of a breach, the user has the option to obtain an Arbitral Award through the International Commercial Arbitration Court (ICAC) at the Astana International Financial Centre (AIFC). The project's partner is IMC GLOBAL, an official partner of the AIFC.

In Kazakhstan, there is a blind spot in financial relations: a gray market for private loans based on receipts, where transactions lack legal force and often end in disputes. Statistics show that thousands of citizens lose money annually without being able to prove the fact of a loan in court. Shart Rate solves this exact problem. When concluding a transaction through the app, parties sign a mediation agreement that has legal force. In case of non-performance of obligations, the International Arbitration Center of the AIFC can be quickly involved in the case, and the debtor's accounts can be blocked as part of enforcing the mediation award. The convenience lies in the ease of use without the need to visit a notary or other specialists. In just two clicks, you conclude a transaction by entering the details of both parties and remain protected.

Project founder Temir Aden admits that the idea for Shart Rate arose from personal experience.

The funds raised from the investor will be directed toward strengthening development, legal infrastructure, and launching a marketing campaign.

The app is currently operating in technical mode. Shart Rate is available on the App Store and Google Play. Within the first three months after launch, the team plans to attract over 100,000 users.