Lanistar raises £15m in fresh VC funding round

By Robin Amlot

UK-based FinTech Lanistar, has agreed terms in its latest funding round, raising £15 million from Milaya Capital in return for a 10% stake in the company. The investment sees the venture capital (VC) firm value Lanistar at £150 million ahead of its winter 2020 launch. The investment will help Lanistar grow its operational and customer support teams, and scale it towards its product launch, aiming to ensure it will provide a smooth experience for its customers.

Lanistar was founded in 2019 by Gurhan Kiziloz. The company will use polymorphic technology to provide a customer-centric alternative to the personal finance offerings provided by the incumbents in the sector. Lanistar, which aims to become a £1 billion FinTech company, hopes to tap into the millennial and Generation-Z market.

This fundraise continues the momentum built up by Lanistar to this point. The company employs 45 full time staff, and has plans to grow a 150-person support team in Greece too. The company also recently announced partnerships with organisations such as Mastercard and Jumio.

Kiziloz, founder and CEO of Lanistar, said: “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 £1 billion FinTech company.”

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.”