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Lanistar, a new banking alternative fintech company, has launched today after securing a £2m seed-funding.

The company, which is based in Hammersmith, formally launches with over 45 fulltime staff, with a further 150 support staff due to be added, and is founded by serial entrepreneur Gurhan Kiziloz who has stated his ambition to create a £1bn fintech company and challenge traditional banking services.

The seed funding, which was raised through private financing and family contributions will support Lanistar’s creation of a game-changing new debit card product, that will help customers streamline their money through cutting-edge technology.

Lanistar’s flagship new product is expected to be officially launched in winter 2020 and make use of polymorphic technology and open banking.

The company hopes to tap into the lucrative millennial and Generation-Z, 18-35 market, attracting customers who are seeking aspirational and lifestyle brands to enrich their daily lives.

Lanistar has invested heavily to ensure it is fully compliant with the EU’s General Data Protection Regulation (GDPR). The company takes cyber security extremely seriously and has also hired industry specialists to ensure all product developments is 100% secure.

Gurhan Kiziloz, CEO, Lanistar, comments:“Consumers are crying out for a hassle-free banking alternative that can make their lives easier and give them first class customer service. 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.

“The days of outdated, poorly performing banking services are over and we’re here to set the new industry standard.”