Lanistar's Bold Move: Conquering Latin America with Plans for UK and EU Return
Hey FinTech Fanatic,
Lanistar is expanding in Brazil and plans to enter Colombia and Argentina by May, while considering re-entering the UK and EU markets. According to an interview on Tech.eu CEO Baber believes Latin America offers significant growth opportunities, which will benefit future expansions in Europe.
Launched in mid-2022 in Brazil, Lanistar's product is a virtual debit card supported by influencers, designed for Gen Z and Millennials, and allows for online purchases and cryptocurrency transactions. Despite only having 68,000 Brazilian customers, Lanistar anticipates rapid growth following an influencer-led marketing campaign. Remember this strategy in the UK a few years ago?
The company, which operates through a banking-as-a-service model with Bankly, aims to attract half a million customers with this campaign, and shortly after integrating Apple Pay.
Despite its success on social media and eco-friendly initiatives, Lanistar debates its return to the UK market, having faced regulatory challenges there.
The company, funded by founder Kiziloz and his family, seeks fresh funding to continue its global expansion and influencer marketing strategy. Kiziloz, who owns 93 per cent of Lanistar, no longer has day-to-day involvement with the FinTech, but has relocated to Dubai, where he is seeking out potential investors in the UAE.
To be continued...
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Lanistar is currently making a play in Brazil, with further launches planned in Colombia and Argentina in May. Yet it still has an eye on a return to the UK market and the EU. Currently, it has only 68,000 customers in Brazil but Baber says it’s about to go gangbusters in the country when it unleashes its influencer “roadblock” marketing campaign.
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