Wallester proudly announces the acquisition of a cross-border activity license, a pivotal development in our expansion efforts into the United Kingdom. This milestone allows Wallester to extend its innovative payment solutions and financial services to the UK, significantly expanding its market presence and reinforcing its commitment to enabling seamless financial transactions globally.
The license, granted by the Estonian Financial Supervisory Authority (FSA), empowers Wallester to execute payment transactions and issue payment instruments in the UK. This strategic advancement positions Wallester to offer its services in one of the world’s most prominent financial hubs and represents a historic post-Brexit achievement as the first Estonian company to receive such a license.
Sergei Astafjev, CEO and Co-Founder of Wallester, expresses his enthusiasm:
Obtaining this cross-border activity license is a significant milestone for us, showcasing hard work and our dedication amidst post-Brexit challenges. The UK’s vibrant market offers immense opportunities, and we are eager to provide British businesses and consumers with our innovative, customer-focused solutions, ensuring convenience and security for all transactions.
Impressive growth and expansion
Our company has shown remarkable growth, showcasing a tenfold increase in monthly revenue over the last 12 months. This expansion into the UK market is a strategic step forward, allowing Wallester to cater to previously unreachable clients due to the lack of UK coverage and further fuel our growth story. Now, Wallester can offer card issuing services for UK residents and local companies across various sectors, including:
- Payment and financial institutions
- Loan providers
- Challenger and neobanks
- EMIs
- Non-banking financial institutions
This license serves as Wallester’s first step in entering the UK market. We plan to have a more permanent presence there and apply for a local EMI license.
Moving forward with our UK operations, the focus remains on leveraging this new opportunity to bring its specialised financial services to a broader audience. The company continues to prioritise innovation, efficiency, and customer satisfaction in its mission to redefine financial transactions in the UK and beyond.
The entry into the UK market symbolises the potential and adaptability of the fintech industry in overcoming regulatory challenges and pioneering new avenues for financial operations across borders.