JET Group, one of Kazakhstan's largest kick-scooter operators, is increasingly shifting its focus to Latin America. In the first quarter of 2026, Brazil accounted for 92.3% of the company's total revenue, according to infohub.kz.
Economist and author of the Telegram channel Finmentor.kz, Arman Batayev, drew attention to this. According to JET Group's financial report for Q1 2026, revenue grew by 85.5% from $8.62 million to $15.99 million. Net profit increased by 40.3% to $1.18 million. EBITDA for the scooter segment more than doubled from $2.62 million to $5.57 million.
Brazil became the key market, with revenue nearly doubling from $7.39 million to $14.76 million. As a result, the country's share in JET Group's total revenue reached 92.3%.
According to Batayev, the company is betting on South American markets because, unlike Kazakhstan, e-scooters can be used year-round there. In addition to Brazil, JET Group is developing its business in Chile and Mexico.
As Chilean Forbes reports, JET Group has been operating in the country for a year. The company currently operates over 2,000 e-scooters and 500 e-bikes in six districts of the capital Santiago, holding about 20% of the market.
In Brazil, the company's position is much stronger. According to data cited by Batayev, JET Group controls about 85% of the market both in terms of app downloads and monthly active users. The company aims to achieve similar indicators in Chile, planning to invest $7 million in the local business this year.
In Mexico, JET Group started operations in April 2026, launching its service in San Pedro Garza García. On June 10, the company announced the deployment of 500 e-scooters in southern Mexico City. The project is timed to prepare transport infrastructure for the FIFA World Cup and fan trips to the Azteca Stadium.
Earlier, JET Group also placed two-year green bonds worth 10 million dirhams under a bond program of 50 million dirhams.
In April 2026, Kazakhstan's JET celebrated its fifth anniversary. Over these years, the startup from Almaty has grown into an international holding with a fleet of over 75,000 devices in eight countries, from Central Asia and the Caucasus to Chile.
According to the company's 2024 financial report, the largest shareholder of JET Group is Kazakh entrepreneur and company founder Meirambek Abelkasov (18.62% of ordinary shares).