Who is financial infrastructure provider, Banking Circle?

By Amber Donovan-Stevens
We take a closer look at the financial infrastructure provider that has just received a banking licence from Luxembourg's regulator: Banking Circle. Ba...

We take a closer look at the financial infrastructure provider that has just received a banking licence from Luxembourg's regulator: Banking Circle. 

Banking Circle, a financial infrastructure provider, has obtained a banking licence from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. The provider can now give financial institutions access to real-time payments, regardless of borders or company size. As a result, the company has moved its HQ to Luxembourg. 

Pierre Gramegna, Luxembourg Minister of Finance with Anders la Cour, Chief Executive Officer and co-founder of Banking Circle said: “Given Luxembourg’s role as a leading financial centre in Europe and a hub for payment services, it made complete sense for Banking Circle, a provider of banking and payments infrastructure for businesses transacting globally, to choose Luxembourg as its headquarters. Being able to operate on a pan-European basis with a Luxembourg banking licence enables businesses like Banking Circle to give their clients additional confidence when it comes to security and compliance rigour.” 

Anders la Cour, CEO, Banking Circle, believes that obtaining this licence will greatly elevate the company’s position in the financial economy. He says: “In the last four years we have built a financial infrastructure that numerous Payments businesses have adopted to process their cross border payments. We have also tackled the limited access to funds for SMEs with our lending solutions.” 

He continues: "Securing our Banking Licence gives us the ability to deliver bank accounts on a global scale so that we can extend our propositions, enabling Payments businesses, such as PSPs and acquirers, to offer banking services to their clients without having to invest in their own costly infrastructure. 

"We’re also providing banks with the ability to extend the services they can offer to their business clients without facing hefty infrastructure investment and regulatory burden." 

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What does Banking Circle Do? 

Started at the end of 2015, Banking Circle was founded as a means to create a new type of financial service: financial infrastructure for payments and banking. It achieves this by delivering mission-critical infrastructure for a range of financial services, such as online cross border payments and loans. In 2018, the company was acquired by the EQT VIII fund (“EQT VIII”) and EQT Ventures fund (“EQT Ventures”) (jointly “EQT”) and has since leveraged the EQT network to accelerate the company’s growth.  

For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine. 

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