Finmo has secured approval from the UK Financial Conduct Authority to operate as an authorised electronic money institution.
The UK will now serve as a key operational hub for Finmo’s next-generation treasury and payments platform as it seeks to empower finance teams with enhanced control and visibility across global operations.
With this new licence, Finmo can issue electronic money and deliver a range of payment services in the UK, including account issuance, domestic and cross-border payments, and foreign exchange services. The approval also allows Finmo to issue IBANs, hold safeguarded client funds locally, and integrate with UK clearing systems such as Faster Payments and CHAPS.
Finmo CEO and co-founder David Hanna said, “Securing our EMI licence in the UK signals more than just regulatory approval, it’s a commitment to serving clients in one of the world’s most advanced financial ecosystems. From fintechs to mid-sized global companies we’re here to empower modern finance and payment teams with greater control, visibility, and confidence in their global treasury operations.”
Founded in 2021 by David Hanna, Akhil Nigam, Richard Oh, Raj Vimal Chopra, and Thomas Kang, Finmo’s leadership team brings decades of collective experience in corporate treasury, banking, payments, and compliance.
Finmo’s move into the UK forms part of its hub-and-spoke expansion strategy, designed to support clients across multiple regions from key regulatory jurisdictions. The new licence aligns with its ambition to scale embedded finance offerings and deepen collaborations with capital market providers to improve liquidity and FX risk management.
The immediate rollout under the UK licence includes the launch of GBP-denominated accounts and access to Faster Payments for eligible clients.
To support its UK expansion, Finmo is growing its compliance and operations team based in the country. This move will enable the firm to better serve UK-headquartered mid-market enterprises, businesses with cross-border operations, and organisations with complex treasury needs requiring a regulated, high-performance financial infrastructure.
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