Enfuce receives e-money licence to boost UK expansion

By Gloria Methri

Issuer processing company Enfuce has secured an Electronic Money Institution (EMI) licence from the UK’s Financial Conduct Authority (FCA). The news comes as Enfuce continues to accelerate its expansion across the UK and Europe, where it already holds an EMI licence from the Finnish FSA.

With the FCA’s EMI licence, Enfuce can provide electronic money services as well as card issuing and payment solutions directly to new and existing UK customers.

The company will now have full control over the entire payment process, ensuring a seamless onboarding experience and providing its clients with a complete Enfuce solution, which is more secure, efficient and scalable.

This announcement comes less than two years after Enfuce’s first launch in the UK in June 2022. To date, Enfuce has successfully established key strategic partnerships with prominent UK FinTech and financial services companies including Funding Circle and Science Card.

Denise Johansson, co-founder and co-CEO of Enfuce Group, said, “This is a major step forward for Enfuce. Our ambition from the start has been to expand our presence across Europe and the world. The UK is a key market for us in this endeavour. The FCA’s seal of approval is not only a testament to Enfuce’s commitment to uphold the highest regulatory standards, but will also provide us with the market access, operational ownership and flexibility that are necessary for long-term growth and success in the ever-changing payments landscape.”

Fernley Blackler, CEO of Enfuce UK, who leads the company’s operations in the UK, added, “We are incredibly proud to have received the e-money licence from the FCA, which is renowned for its tough regulatory standards. The authorisation process for EMIs has become more difficult in recent years, so our approval further confirms Enfuce’s compliance with the highest regulatory standards as well as the trust of the regulator in our business model and management team.”