UK-based new banking alternative FinTech Lanistar has launched today after securing a £2m seed-funding. The Hammersmith-based FinTech was founded by Gurhan Kiziloz and is expected to release its new flagship debit card product in the winter of 2020. The seed funding was raised through private financing and was aimed at supporting the new product launch, which will make use of polymorphic technology and open banking.
Gurhan Kiziloz, CEO, Lanistar, commented, “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.
Lanistar aims to cater to the millennial and Gen-Z market and will offer early supporter and influences an opportunity to join the company by raising the company’s profile and reaching its target valuation. The company has stated that it has taken steps to ensure that it is fully compliant with the EU’s General Data Protection Regulation (GDPR).
“The days of outdated, poorly performing banking services are over, and we’re here to set the new industry standard.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 £1billion fintech company and our team will work around the clock to turn this dream into a reality,” Kiziloz added.