Digital banking alternative Lanistar launches in the UK with hiring push

The challenger banking provider has set its sights on becoming the UK’s next fintech unicorn.

London-based challenger banking service Lanistar has officially launched today following at £2m seed round. 

The seed funding, which was raised through private financing and family contributions, will help Lanistar to create its debit card that “will help customers streamline their money through cutting-edge technology”, it is hoped the card will be brought to market in late 2020.

Currently, the company has 45 permanent staff and plans to employ a whopping 150 support staff following the funding round.

Like its digital banking counterparts, such as Monzo and Revolut, Lanistar wants to tap into the 18-35 millennial market and has said that it wants to use social media influencers to raise its public profile.

Gurhan Kiziloz, CEO of Lanistar, said: "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.”

Kiziloz said this morning that it’s his ambition with Lanistar to “create a £1bn fintech company”... time will tell if he manages to achieve that.

Lanistar made waves in the fintech world after it confidently announced that it “fully expected to become the next £1bn fintech company” and disrupt the current banking arena.