Finmo has received electronic money institution licence in UK and aims to expand; positive.

Fintech firm Finmo has received approval from the UK Financial Conduct Authority to operate as an electronic money institution, allowing it to issue electronic money, provide account services, and facilitate fund transfers. The company aims to make the UK its core operational hub for treasury and payments. Finmo’s expansion into the UK market is part of a strategy to provide services from key regulatory jurisdictions and enhance collaborations with capital market providers. The company has introduced MO AI, a conversational assistant within its treasury platform, to help finance teams manage workflows efficiently. Finmo recently raised $18.5m in a Series A funding round, bringing its total funding to $27m.

Read more at Yahoo Finance: Finmo receives electronic money institution licence in UK