Public company Innoforce Public Limited Company, which develops software and fare payment systems for public transport, earned 292.5 million tenge in profit in 2025. This was reported by Qazaqyia.kz citing Kursiv Media.
The company implements the system under the Avtobys brand. Innoforce's revenue last year amounted to 4.1 billion tenge. The company also received 7.6 million tenge in state subsidies.
The company started operations on January 22, 2025. Innoforce's retained earnings at the end of 2025 amounted to 1 billion tenge (higher than the profit earned last year due to income from acquiring companies under common control of 867.8 million tenge).
Innoforce shareholders are citizens of Kazakhstan and the corporate fund Astana Technology Fund. The ultimate controlling party is Baglan Nurekenova, who owned 73.15% of shares at the end of 2025. 9.5% is owned by Zarema Aubakirova, 9.5% by Sanzhar Aubakirov, 5% by the corporate fund, and 0.95% each by Nazerke Zhanabek, Aidos Tokhtaruly, and Konstantin Starikov.
The company's activities include development, implementation and maintenance of software, databases, advertising, performing functions of a public transport operator, accepting and processing payments using electronic money, and so on.
Since 2025, the company has been implementing a new fare payment system in public transport in Almaty, Astana, and other cities of the country – Avtobys.
In March, June, and December 2025, Innoforce acquired 100% stakes in InnoForce Group, Innoforce solutions, Aitekno, and an 80% stake in Unity Soft (Kyrgyzstan) for 22.983 million tenge to expand its business and strengthen market positions. These companies, in turn, own 100% stakes in Innoforce systems, Smart Mobility Aqtau, and AllPay.
"Since the legal entities were under the control of the same owners at the acquisition date, the assets and liabilities of InnoForce Group LLP, Innoforce solutions LLP, Aitekno LLC (Kyrgyzstan – Kursiv) were recognized at their carrying amount at the acquisition date, and the difference between the consideration transferred and the acquired net assets was recognized in equity," the report says.
The company provides access to payment and monitoring systems for public transport Avtobys, Innopay, and a dispatching system. The first operates in Astana's public transport. In addition, the company is expanding its activities to other cities.
"In August 2025, the group established Smart Mobility Almaty LLP, which operates as an operator of bus fleets in Almaty, and contributed 745,100 thousand tenge to its charter capital. The company was created to develop this line of business and subsequently sell it. In December 2025, as a result of a contribution by a third party, the group's stake decreased from 100% to 80.11%. As of December 31, 2025, the group's management approved a plan to sell the stake, and negotiations with potential buyers were underway.
Completion of the transaction and receipt of 745.1 million tenge at carrying value is expected within 12 months after the 2025 report.
Recall that Almaty is gradually introducing the new electronic fare payment system Avtobys. Kursiv previously wrote about what is known about the system's developers.