By ET Bureau - March 27, 2020 2 Mins Read
Lanistar, a new banking alternative fintech company, launches, after securing £2m seed-funding. The company, which is based in Hammersmith, formally launches with over 45 fulltime staff, with a further 150 support staff due to be added, and is founded by serial entrepreneur Gurhan Kiziloz who has stated his ambition to create a £1bn fintech company and challenge traditional banking services.
The seed funding, which was raised through private financing and family contributions will support Lanistar’s creation of a game-changing new debit card product, that will help customers streamline their money through cutting-edge technology. Lanistar’s flagship new product is expected to be officially launched in winter 2020 and make use of polymorphic technology and open banking.
The company hopes to tap into the lucrative millennial and Generation-Z, 18-35 market, attracting customers who are seeking aspirational and lifestyle brands to enrich their daily lives. As part of its marketing effort, Lanistar is offering early supporters and online influencers the opportunity to own part of the company, helping raise the company’s profile and reach its target valuation.
Lanistar has invested heavily to ensure it is fully compliant with the EU’s General Data Protection Regulation (GDPR). The company takes cybersecurity extremely seriously and has also hired industry specialists to ensure all product developments are 100% secure.
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