Lanistar hits £150m valuation with £15m investment from Milaya Capital on course to becoming £1bn fintech

Milaya Capital, led by entrepreneur Yasam Ayavefe (pictured left) with Lanistar CEO Gurhan Kiziloz, pumps £15million into banking fintech Lanistar, with the company achieving a £150m valuation pre-launch on the road to reaching £1bn

by Patrick Sullivan, Political Editor on 11 July 2020 20:27

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Banking alternative Lanistar, which is due to launch a new polymorphic debit card later this year, has secured £15million in funding from entrepreneur Yasam Ayavefe of Milaya Capital, with the company achieving a valuation of £150million pre-launch.

Gurhan Kiziloz, the founder and CEO of Lanistar aims for the company to become the next £1billion fintech, challenging banking services and tapping into the millennial and Generation-Z market, attracting customers who seek aspirational and lifestyle brands to enrich their daily lives.

The Lanistar bank card is set to send shockwaves through the market. It has a polymorphic ability, allowing the consumer to link up to eight bank cards into one card. It is perfect for those who travel constantly and need that extra added security that the Lanistar card provides.

Kiziloz believes that the bank card is a statement that everyone will want to have. Consumers who are travelling, for example, do not want to be stuck on hold for 45 minutes trying to disable their card, so Lanistar has built an app that saves clients from ever having to stress about such requests.

Key to the next stage of the company’s success is a major cash injection from Milaya Capital, a global provider of venture capital services.

After being impressed by the Lanistar vision and mission to become the next £1billion fintech, Milaya Capital has just agreed to invest £15million in exchange for 10% share ownership of Lanistar. Lanistar has also been valued at a cool £150m, not a bad start after one year of trading.

The investment will enable Lanistar to grow its operational and customer support teams, and scale it towards its product launch, ensuring it will provide a smooth experience for its customers. Milaya Capital’s CEO Yasam Ayavefe is also an entrepreneur and visionary, making his name in the industry as someone on the lookout for backing exciting new companies.

For Kiziloz (pictured), the inspiration for the Lanistar business came when he experienced disappointment with the tools provided by the high-street banks to manage his money. Eager to provide a remedy, Kiziloz decided to apply his business nous to the world of fintech by creating a game changing product, designed to revolutionise the life of millions.

Already Lanistar has impressive offices in Hammersmith, London with a team of 50 full time staff, and has plans to grow a 150-person support team in Greece too. Other big brands are already getting onboard, with recent partnerships announced with Mastercard and Jumio.

“The Covid-19 outbreak has exposed shockingly poor services from many of the big banks, with customers and businesses complaining about delays and slow-coach responses, at a time when people urgently need quick communication and support,” says Kiziloz.

He continues, “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 Lanistar every step along the way, with high-class mentors and a strong community of founders in the fintech environment,” added Ayavefe.

 

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