Digital banking challenger Lanistar raises £15m ahead of winter launch

via AltFi

London-based challenger banking service Lanistar has raised £15m ahead of its official launch which is due to take place later on this year. 

The injection of cash came from VC firm Milaya Capital, which now owns a 10 per cent stake in the fledgling fintech, valuing Lanistar at £150m. 

Lanistar plans to use the funds to increase its employee numbers and gear up for its product launch. 

The fintech currently employees 45 staff in its London office and has a 150-strong customer support team based in Greece.  

The recent fundraise takes the total raised by the fintech to £17m, following a £2m seed round that it closed at the end of March 2020. 

Gurhan 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.” 

The fintech 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.