Singaporean fintech firm Finmo has received authorisation from the UK Financial Conduct Authority to operate as an Electronic Money Institution (EMI), allowing it to provide payment and treasury services in the country.
The license permits Finmo to issue electronic money, process domestic and international fund transfers, offer foreign exchange services, and issue IBANs.
It also allows the company to hold safeguarded client funds in the UK and connect directly to local clearing systems, including Faster Payments and CHAPS.
Founded in 2021 by David Hanna, Akhil Nigam, Richard Oh, Raj Vimal Chopra, and Thomas Kang, Finmo offers an integrated treasury and payments platform for finance teams managing multi-entity operations.
The UK will serve as a core hub in the company’s hub-and-spoke expansion model, which includes regulatory approvals in Singapore, Australia, New Zealand, Canada, and the United States.
The license supports Finmo’s plans to scale embedded finance offerings and strengthen partnerships with capital market providers for liquidity and FX risk management.
Initial UK rollouts include GBP-denominated accounts and Faster Payments access.
Finmo is also expanding its UK compliance and operations team to support mid-market firms headquartered in the UK, international businesses with cross-border operations, and companies with complex treasury needs.
Its platform features MO AI, a conversational assistant embedded within its intelligent treasury system.
Built for CFOs and finance teams, MO AI enables users to retrieve balances, initiate payments, analyse transactions, and generate reports using simple prompts.
David Hanna, CEO and Co-founder of Finmo said,
“Securing our EMI license 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.”
Featured image: Edited by Fintech News Singapore, based on image by Finmo
