Embattled fintech Lanistar has been issued another winding-up petition, its second in less than six months, according to documents seen by Sifted.
Founded in 2019 by Gurhan Kiziloz as a digital bank, Lanistar largely relied on endorsements from Love Island influencers like Amber Rose Gill and Tommy Fury and footballer Kevin de Bruyne in its efforts to compete against leading neobanks Monzo and Revolut.
Despite the company’s promotional efforts, Lanistar has faced problems since its founding, delaying its launch several times, conducting layoffs and being accused of paying staff salaries late, Sifted previously reported in 2021.
The latest winding-up petition application, accessed via Caseboard, was filed yesterday by Accomplish Financial Limited, a payments solution provider working with Lanistar according to its website. They are typically issued by creditors to force debtors into liquidation if they fail to pay back debt the creditors claim they’re owed.
Lanistar and Accomplish Financial Limited did not immediately respond to requests for comment.
The new filing follows a previous winding-up petition in September by its London landlord over unpaid rent.
A short time later, then-CEO Jeremy Baber and former UK defence secretary Sir Gavin Williamson — who joined the fintech’s advisory board in October 2023 — severed ties with the company.
Things were briefly looking up Lanistar. In October, Financial News reported the attempt to liquidate Lanistar was dismissed after the fintech paid its debts.
“We can’t be beat and may you cover our story for the next 20 years as we build a successful business,” founder Kiziloz told Financial News at the time.
