In 1995, Lomtadze founded Georgia Consulting Group Audit. The company provided auditing and consulting services. In 2002, Lomtadze sold the firm, which became part of Ernst & Young's global network.[5] He then embarked on a career at private equity fund Baring Vostok Capital Partners, first as a project manager, and later as a partner.[6][7]
In 2006, Mikhail Lomtadze became a member of the board of directors of Kazakhstan's Caspian Bank, and, a year later, became chairman of the bank's board. In 2011, Lomtadze rebranded the bank as Kaspi.[2][8][9]
Between 2006 and 2010 he was a member of the board of the Russian Center for Financial Technologies.[10]
In February 2013, Lomtadze and Vyacheslav Kim acquired the merged company Kolesa, Krysha, Market for $15 million, and Lomtadze became chairman of its supervisory board.[11]
In 2017, he invested more than 1 billion rubles in Automama.ru, a retail network for used cars.[12]
In 2021, Lomtadze ranked third in the list of the 50 Richest Businessmen in Kazakhstan according to Forbes Kazakhstan[13] and second among Georgian billionaires on Forbes' The World's Billionaires list.[14]
In 2024, Lomtadze became a board member and partner of the English professional association football club Wycombe Wanderers F.C.[15] In the same year, he acquired the Wycombe Wanderers, buying out 90% of its shares.[16]
In November 2025, Lomtadze became the owner of Kazakhstan Premier League Side FK Zhenis.[17]