Enfuce appoints new chairman, secures UK EMI licence from the FCA
Finnish issuer processor Enfuce has bagged a UK Electronic Money Institution (EMI) licence from the Financial Conduct Authority (FCA) and announced the appointment of Laurence Krieger as chairman of its UK board of directors as the firm looks to expand its footprint in the country.
Enfuce secures UK EMI licence, appoints new chairman
The new UK licence builds on the European EMI licence it previously secured from the Finnish Financial Supervisory Authority (FSA) and will enable the company to provide “electronic money services as well as card issuing and payment solutions directly to new and existing UK customers”.
Enfuce initially launched in the UK back in June 2022 and has since partnered with UK-based neobanking start-up Science Card and small business lender Funding Circle.
The company says the new licence “marks an important milestone” as it looks to grow its UK presence further.
To help with its expansion, Laurence Krieger has also joined to chair the company’s UK board. Krieger is a fintech veteran and previously served as CEO of small business bank Tide UK and chief operating officer at Revolut. He is also CEO of a new digital retail challenger bank that’s currently in stealth mode.
Speaking on his appointment, Krieger says he joins the firm “at a time of significant momentum”, adding that the new UK EMI licence “will play a crucial role” in enabling its expansion plans.
Founded in 2016, Enfuce provides global card issuing and payment processing services and white-labelled tech solutions for companies looking to launch bespoke card payment programmes. It has currently raised around €68.5 million in funding and describes itself as “one of Finland’s most valuable scale-ups”.
