Lanistar launches after securing seed funding worth £2m

Charlie Spargo's picture

FinTech Lanistar, which intends to become a banking challenger unicorn, has announced its launch having secured £2 million worth of seed funding. 

The funding was raised through private financing and family contributions, and will go towards the creation of a new debit card product by the company, which already employs 45.

The new product is expected to officially launch in winter 2020 - utilising polymorphic technology and open banking. This is intended to provide superior security and premium customer service.

Part of Lanistar's marketing effort involves offering early supporters the opportunity to own part of it, to both raise its profile and help reach its target valuation of £1 billion.

Gurhan Kiziloz, CEO at Lanistar, said: “Consumers are crying out for a hassle-free banking alternative that can make their lives easier and give them first class customer service. For too long the established banking providers have treated their customers like numbers a spreadsheet, letting them down when they need it most and ignoring their concerns.

"We’re investing heavily in a product that will transform the market, giving consumers a personalised, exciting experience which will fit easily into their daily lives.

"The days of outdated, poorly performing banking services are over and we’re here to set the new industry standard. We fully expect Lanistar to become the next £1 billion fintech company and our team will work around the clock to turn this dream into a reality.”