Fintech startup Lanistar raises £15m funding for winter commercial project
A London finance management company has raised £15m to help support a commercial launch.
Lanistar, which is a personal financial management startup, has raised £15m from Milaya Capital to support its forthcoming commercial launch for winter 2020.
The investment sees Milaya Capital gain a 10 per cent stake in the company at a valuation of £150m.
The investment will help Lanistar grow its operational and customer support teams and scale it towards its product launch.
The Hammersmith-based company employs 45 full time staff and has plans to grow a 150-person support team in Greece. It has also recently announced partnerships with organisations such as Mastercard and Jumio.
Gurhan Kiziloz, founder and CEO of Lanistar, stated: “For far too long, the customer has been an afterthought in the minds of the banks.
“Rather than being seen as a valued client, whose views are treated with the utmost respect, the modern customer has been seen as nothing more than a statistic on a balance sheet.
“We’re here to change that, and this investment through Milaya Capital will help us to do that and brings us closer to my ambition of building a £1bn fintech company.”
Kiziloz founded the company last year and uses polymorphic technology to provide a customer-centric alternative to the personal finance offerings provided by the incumbents in the sector. It aims to become a £1 billion fintech company and challenge traditional banking services.
Yasam Ayavefe, founder and CEO of Milaya Capital, added: “I am always on the lookout for the next big thing in the world of technology, but more importantly, we also want to support and invest in ideas that will simplify and benefit people’s lives.
“This is exactly what Lanistar will provide. The technology underpinning Lanistar’s product is the future of personal finance, and I believe that it will go on to change our lives forever, by letting us streamline our finances.
“We’ll support every step along the way, with high-class mentors and a strong community of founders in the fintech environment.”
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