Fincraft Group

What Fincraft Group does

Fincraft Group LLP is a privately held diversified holding company founded in May 2014 in Almaty, Kazakhstan, by sole shareholder and President Kenges Rakishev. Originally established as Novacom Corporation LLP, it was rebranded to Fincraft Group in November 2019. The Group operates across five segments: Oil & Gas (exploration and production), Mining and Processing of metals (nickel and cobalt), Educational services (K-12 and consulting), Distressed asset management, and Other activities. Its oil and gas portfolio includes Kumkol Trans Service (Kainar, Sarybulak fields), Nobilis Corp (Borankol), Varro Operating Group (Tolkyn field), Petro Energy Group (Tasshara, Tasym blocks), and the Borankol Gas Processing Plant. Kaznickel LLP develops the Gornostayevskoye cobalt-nickel deposit in Kazakhstan's Abay region. Shoqan School serves 935 students in Almaty with Shoqan Academy providing teacher training services. The Group holds minority positions in Equus Petroleum Limited (50%), ARK Petroleum LLP (50%), BTA Bank JSC (29%), and a venture investment in StoreDot Ltd.

Fincraft Group generates returns through equity ownership of operating subsidiaries across hydrocarbon extraction, critical minerals mining, and private education, supplemented by portfolio investments in financial services and battery technology. The Group's revenue mechanics are driven by commodity sales (oil, gas, nickel, cobalt), tuition and education consulting fees, and capital gains from equity stakes. The company is privately held; its bonds are listed on the Kazakhstan Stock Exchange (KASE) under ticker NCOM with five series outstanding (NCOMB1, NCOMB2 redeemed, NCOMB3, NCOMPp1, NCOMPp2). Authorized capital stands at 107 billion tenge, and S&P Global Ratings assigned a B/B credit rating with Stable outlook in August 2019, with Deloitte LLP as auditor. The Group employs 1,200+ staff across its main operating companies.

The go-to-market motion is sales-led and relationship-driven, typical of Kazakhstan's natural resource sector where government-issued concessions, exploration and production contracts, and licenses form the basis of operations. Distribution is through direct operations of subsidiaries within Kazakhstan only — there is no global footprint claim. Investor relations are managed through the KASE bond listings and corporate website (fgroup.kz), available in English, Kazakh, and Russian. Recent strategic activity has been concentrated on upstream oil and gas consolidation, with multiple acquisitions completed in 2022-2023 (Nordland Petroleum, Equus Petroleum, ARK Petroleum) and a proposed Tethys Petroleum merger announced in December 2025.

Name

Fincraft Group

Legal name

Fincraft Group LLP

Website

https://fgroup.kz

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Fincraft Group LLP is a privately held Kazakhstan diversified holding company founded in 2014 by Kenges Rakishev, operating oil and gas exploration and production, nickel-cobalt mining, private K-12 education, and portfolio investments across 13+ subsidiaries employing 1,200+ staff.

Ownership category

akta.pro rank

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Investment Holdings and Portfolio Management: The group generates returns through ownership stakes in operating subsidiaries across oil & gas, nickel & cobalt mining, and education sectors. The company is listed on KASE (NCOM) with multiple bond issuances.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Fincraft Group is a diversified holding company that owns and manages operating subsidiaries across five segments: Oil & Gas exploration and production, Nickel & Cobalt mining and processing, Educational services (a private K-12 school and teacher training academy), Distressed asset management, and Venture investments. The group employs more than 1,200 staff across its portfolio companies and operates primarily in Kazakhstan.

Product overview

Fincraft Group is a diversified holding company operating in five key segments: Oil & Gas, Mining & Processing of metals (Nickel & Cobalt), Educational services (Shoqan School and Shoqan Academy), Distressed asset management, and Venture Investments. The Group operates through multiple subsidiaries including Kumkol Trans Service, Nobilis Corp, Varro Operating Group, Petro Energy Group, and Borankol Gas Processing Plant in the Oil & Gas segment; Kaznickel for Nickel & Cobalt operations; Shoqan School and Shoqan Academy for education; and holds a venture investment in StoreDot for battery technology. The main operational companies employ more than 1,200 staff members.

Differentiator

Problem solved

Functional benefit

Products and services

• Kumkol Trans Service Oil and gas exploration and production company based in Kyzylorda, Kazakhstan, operating production activities at the Kainar and Sarybulak oilfields.
• Nobilis Corp Crude oil and associated petroleum gas extraction company established in 2022 in Aktau, Kazakhstan, holding the contract for oil extraction at the Borankol field.
• Varro Operating Group Natural gas, crude oil, and gas condensate production company established in 2022 in Aktau, Kazakhstan, operating at the Tolkyn field.
• Petro Energy Group Hydrocarbon exploration company established in 2022 in Aktau, Kazakhstan, holding exploration contracts for the Tasshara and Tasym blocks in the Mangystau region.
• Borankol Gas Processing Plant Unified technological complex for processing associated and natural gas from the Tolkyn and Borankol fields, producing liquefied hydrocarbon fractions with storage, transportation, and delivery capabilities.
• Kaznickel Cobalt-nickel mining and processing company engaged in development of the Gornostayevskoye cobalt-nickel ore deposit in the Abay region of Kazakhstan.
• Shoqan School Private K-12 school in Almaty, Kazakhstan, serving 935 students from grades 1-11. Offers education in Kazakh and Russian languages with an international Advanced Placement program and UNESCO candidate school status.
• Shoqan Academy Education consulting organization offering professional development and training services for pedagogical and managerial staff in the education sector.
• StoreDot (Venture Investment) Venture-stage investment in StoreDot Ltd., a pioneering battery developer specializing in ultra-fast charging technology capable of fully charging a battery in five minutes.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Central Asia Metals: Mining company with producing copper and lead-zinc assets in Kazakhstan and North Macedonia. Highly comparable to Fincraft given its Kazakhstan base and the historical involvement of Kenges Rakishev as a major shareholder.
• Eurasian Resources Group (ERG): Diversified natural resources group producing chromium, copper, cobalt, and other metals across Kazakhstan and Africa. Comparable to Fincraft's mining segment (Kaznickel) and broader natural resources holding structure with a major Kazakhstan operating presence.
• Petropavlovsk: Gold mining company with primary operations in the Amur region of Russia and previously led by Kenges Rakishev as majority shareholder. Comparable to Fincraft's mining exposure and through the same controlling investor.
• KazMunayGas: Kazakhstan's national oil and gas operator with extensive upstream, midstream, and downstream assets in Kazakhstan. Directly comparable to Fincraft's oil & gas segment (Kumkol Trans Service, Varro Operating Group, Nobilis Corp) given shared country footprint and upstream focus.
• Samruk-Kazyna: Kazakhstan's sovereign wealth fund and diversified national holding company managing assets across energy, mining, industrials, and finance. Closely comparable to Fincraft as a Kazakhstan-headquartered diversified holding company with a strategic long-term portfolio management orientation.
• Sat & Company: Diversified Kazakhstan holding company with mining, energy, and financial assets; Kenges Rakishev has served as Chairman of the Board. Directly comparable to Fincraft as a Rakishev-controlled Kazakhstan diversified holding company.
• KAZ Minerals: Major Kazakhstan-based copper mining group now owned by Nova Resources. Comparable to Fincraft via Kazakhstan mining footprint and exposure to base/industrial metals demand, though focused exclusively on copper.

Broad incumbents

• Glencore: Global diversified mining and commodities trading giant. Comparable to Fincraft's mining and energy trading exposures, though at vastly larger scale and with full vertical integration across multiple commodities and geographies.
• Polymetal International: Diversified precious and base metals mining company operating in Russia, Kazakhstan, and Armenia. Comparable to Fincraft via overlap in mining and Central Asian footprint, but operates at broader geographic and portfolio scale.

Regional players

• NAC Kazatomprom: Kazakhstan's national uranium mining company and a major player in the global nuclear fuel cycle. Comparable to Fincraft via shared Kazakhstan resource extraction focus and country exposure, though specialized in uranium rather than diversified metals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fincraft Group