Treasury and Payments Platform Finmo Secures UK EMI Licence, Expands Global Footprint

Korea Herald

08-07-2025

LONDON and SINGAPORE, July 8, 2025 /PRNewswire/ -- Fast-growing fintech company Finmo has received approval from the UK Financial Conduct Authority (FCA) to operate as an Authorised Electronic Money Institution (EMI). This strategic milestone marks a major step in Finmo's global expansion as it establishes the United Kingdom as a core operational hub for its next-generation, integrated treasury and payments platform.
With the EMI licence, Finmo is now authorised to issue electronic money and offer a range of payment services in the UK, including account issuance, domestic and cross-border fund transfers, and foreign exchange transactions. The licence also enables Finmo to issue IBANs, hold safeguarded client funds locally, and integrate directly with UK clearing systems such as Faster Payments and Clearing House Automated Payment System.
David Hanna, CEO and Co-founder of Finmo 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."
Finmo was founded in 2021 by David Hanna, Akhil Nigam, Richard Oh, Raj Vimal Chopra, and Thomas Kang - financial technology veterans with decades of collective experience across corporate treasury, global banking, payments, and compliance.
Finmo's entry into the UK market is part of its hub-and-spoke expansion strategy, designed to serve clients across multiple regions from key regulatory jurisdictions. The licence also supports Finmo's plans to scale embedded finance solutions and deepen partnerships with capital market providers for liquidity and FX risk management.
Immediate rollouts under the EMI licence include the launch of GBP-denominated accounts, and Faster Payments access for eligible clients.
Finmo is also expanding its UK-based compliance and operations team to support these efforts. This move enhances Finmo's ability to serve UK-headquartered mid-market enterprises, international businesses with cross-border operations, and companies with complex financial requirements looking for regulated, high-performance treasury infrastructure.
The company recently launched MO AI, a conversational assistant embedded directly within its intelligent treasury platform. Built for CFOs, controllers, and finance teams, MO AI transforms fragmented, multi-entity workflows into a unified, real-time experience, enabling users to retrieve balances, analyse payments, initiate transactions, and generate reports using command-based prompts.
About Finmo
Finmo is a global financial technology company transforming the way modern finance teams manage treasury and payments. The company was founded in 2021 by David Hanna, Akhil Nigam, Richard Oh, Raj Vimal Chopra, and Thomas Kang - financial technology veterans with decades of collective experience across corporate treasury, global banking, payments, and compliance.
Its intelligent platform integrates payments, FX risk mitigation, liquidity and cash management, and financial system connectivity into a single, secure solution - providing real-time visibility, control, and operational efficiency across global financial workflows.
Trusted by fintechs and mid-sized global companies, Finmo holds regulatory approvals in key jurisdictions including Singapore, Australia, New Zealand, Canada, the United States, and the United Kingdom. The company is committed to building a faster, smarter, and more resilient financial infrastructure for the digital economy.