Prosper Pay issued bonds and raised over $5 million

Venture startups enter the bond market: the case of Prosper Pay and Alatau City Invest

The Kazakhstani capital market has opened its doors to a new class of issuers — fast-growing technology startups. One of the leaders in the FinTech industry, Prosper Pay, became the first venture company in the country to issue bonds and raise over $5 million. The deal was organized by the investment company Alatau City Invest, formerly Jusan Invest, confirming its reputation as a catalyst for change in the market.

A precedent that will change the rules of the game

The capital market has long been a "closed club" for startups, accessible only to large corporate issuers and state-owned companies. This deal became a striking precedent, proving that innovative yet business-model-mature companies can find funding not only in venture funds and from business angels, but also through market instruments.

Timur Salimov, Chairman of the Board of Alatau City Invest
We are proud to have brought Prosper Pay to the bond market. It is significant to organize the first market bond deal that demonstrates the interest of a wide range of investors in startups, while also allowing startups to access a new class of professional investors and accelerate their path to an IPO as one of the most attractive exit strategies.

Key terms of the issuance

The issuance involves raising over $5 million in US dollars with an annual yield of 11%. The term of the bonds is 30 months, with quarterly payments.

For investors, this is an opportunity to obtain clear dollar-denominated returns, while for the startup, it is an important step toward financial stability and market recognition.

Why Prosper Pay was chosen

Prosper Pay is one of the most promising Kazakhstani startups, developing an Earned Wage Access service. This technology allows employees to access their earned wages instantly at any time. This approach reduces financial stress for workers, increases their loyalty and satisfaction, and helps employers retain staff, speed up hiring, and enhance the company's attractiveness in the labor market.

Alatau City Invest: new identity — same drive

The deal is also notable for being one of the first significant ones following the brand change: on August 4, 2025, Jusan Invest officially became Alatau City Invest. The rebranding emphasized market orientation and an innovative approach to the Kazakhstani market, as well as a strategy for developing local companies through effective market instruments.

A signal to the market: startups are ready for the capital market

The placement of Prosper Pay is not just a successful debut of one issuer, but a landmark signal to the entire market. With proper preparation and support from professional consultants, even startups can integrate into the debt capital market, diversifying their funding sources.