Lanistar secures FCA approval on the road to £10bn valuation

Fintech startup Lanistar has received approval from the FCA, allowing it to operate as an electronic money agent (EMD) for payments company Modulr.

Lanistar, a rising force on the UK’s fintech scene has been seeking to disrupt the financial landscape as a payment card and account provider that aligns with young ‘millennial lifestyles’ according to its mission. 

The company had over 70 employees at the end of last year and has been steadily building its workforce as it aims to become a challenger brand in the fast growing digital payments and fintech space.

With the UK’s booming fintech scene and world class financial institutions providing a great home for the world’s next disruptors, Fintech company Lanistar has been able to capitalise on access to funding to build itself from the ground up.

Thanks to new hires and leadership including Bill Suglani, its CFO, a former BP, KPMG and Jeremy Baber,  who previously worked at GE Capital, Aldermore Bank and Link Financial. Fintech company Lanistar is set to add 300 more staff this year in a boost for fintech jobs along with a bold vision to innovate.

With its Hammersmith offices and regional locations in Greece and Macedonia, Lanistar is also working with a network of 3000 social media influencers, elevating its status among connected millennial audiences it wants to target ahead of its planned launch in the EU later in 2021.

Speaking with reporters regarding Lanistar’s latest FCA approval, CEO, Gurhan Kiziloz said, “We are extremely grateful and excited by the official confirmation that we are approved as an EMD agent and one step closer towards achieving greatness. We are laser focused and obsessed with delivering our product and scaling up our company through 2021 with clinical precision and look forward to slowly but surely welcoming customers all over the world.”

Customers of Lanistar will be able to access new digital accounts, send and receive payments thanks to the FCA approval. Backed by Mastercard, the UK fintech is set to reveal its new debit cards officially later this year following product testing.