Enfuce has secured an Electronic Money Institution (EMI) licence from the UK’s Financial Conduct Authority (FCA) and strengthened its leadership team.
The Finnish-founded company has “taken a major step forward” in the country by obtaining an e-money licence from the FCA, with hopes of expanding throughout the UK and Europe, where it already holds an EMI licence from the Finnish FSA.
Under the FCA EMI licence, the firm is able to offer electronic money services, card issuing, and payment solutions directly to UK customers, ensuring a seamless onboarding process and providing UK clients with a secure, efficient, and scalable Enfuce solution.
Denise Johansson, Co-Founder and Co-CEO of Enfuce Group, commented: “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.”
This announcement arrives less than two years following Enfuce’s initial launch in the UK in June 2022, signifying a significant milestone in the company’s ongoing expansion within the country.
Enfuce has notably formed crucial strategic partnerships with prominent UK fintech and financial services firms, such as the renowned small business platform Funding Circle as well as being backed in the European market by payments giant Visa.
Monika Liikamaa, Co-Founder and Co-CEO of Enfuce Group, said: “With the FCA’s licence we can truly bring the entire Enfuce experience to our current and future partners across the UK to allow them to unlock the full potential of their card payments solutions.”
Alongside securing the FCA’s EMI licence, Enfuce is enhancing its leadership team with the addition of Laurence Krieger as the Chairman of the Enfuce UK Board of Directors.
Krieger has a notable background, working in previous positions as Tide‘s UK CEO and Revolut‘s COO. Enfuce hopes his experience will bring extensive expertise in the fintech and challenger banking sectors, with his appointment aiming to bolster the company’s trajectory of growth and development in its upcoming phases.
Krieger remarked: “I’m thrilled to be joining Enfuce at a time of significant momentum for the company. Enfuce has been at the forefront of financial services since day one, pioneering payment processing in the public cloud.
“Receiving the FCA’s EMI licence is an incredible achievement that will play a crucial role in fuelling the company’s ambition to expand its global presence and revolutionise the payment landscape.“
