Kazakh Startup Squares.kz Withdraws from the UAE Market and Chooses Not to Pursue Unicorn Status

Squares App is a startup that has changed the game in the rental space market in Kazakhstan. The process of finding and booking a venue for events, which used to take days, can now be completed in just 20-30 minutes. In an interview with Er10.media, Squares.kz founders Kasym Kabylgali and Daniil Matskevich shared how the project came to be, why it won’t become a unicorn, and what the new version of the platform has brought.


«Our startup has already reached a cash-positive status. We’ve been generating revenue for the past year and a half, which has provided us with the resources for growth and made us more attractive to investors. This financial stability has allowed us to focus on developing our new product. With our core business generating profit, we’ve been able to concentrate on further strategic development.

We participated in the third batch of the Silkway Accelerator program, organized by Astana Hub in collaboration with Google for Startups in 2023. Those 12 weeks were incredibly intense, but under the guidance of our mentors, we worked tirelessly to achieve our goals. The workshops hosted by Astana Hub, where guest mentors shared their expertise on topics ranging from marketing to finance, were particularly memorable and invaluable to our growth», - said Kasym Kabylgali.

Explore the Evolution of Kazakhstan's Startup Scene in the "100 Startup Stories of Kazakhstan" Series This series, a collaboration between the editorial team at Er10 Media and Astana Hub, showcases the achievements of Kazakh startups and highlights the most exciting projects. Featured startups include members of Astana Hub as well as other innovative and technological products and services. Content is available in Kazakh, Russian, and English.

Read more details on the website er10.kz.

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