Incard, the financial platform for high-growth digital companies, has been granted an Electronic Money Institution (EMI) licence in the UK, a major milestone in the company’s ambition to reconfigure how entrepreneurs manage their finances.
Incard is now regulated by the Financial Conduct Authority (FCA) as an Authorised Electronic Money Institution, giving it the autonomy to issue electronic money (e-money), and directly provide payment and card accounts, as well as foreign exchange services.
Theo Cesarini, CEO of Incard, said: “Securing an EMI licence is pivotal. At Incard, we are building a financial platform for digital entrepreneurs to manage their finances in a way that makes sense for their businesses. The banking system hasn’t served their needs well and we’ve developed an orchestration layer that pulls together what they need in a single place, whether that is access to business banking, corporate cards, cash flow management, invoicing, or ad spend. As we are an Authorised E-Money Institution, we can move faster to overcome the fragmentation that currently exists in the banking and payments infrastructure.”
Cesarini continued: “Modern businesses operate at a different speed. They need a financial institution that understands their unique workflows while keeping pace with their growth. This EMI licence means we can respond effectively to our clients’ needs and expand our product offering.”
The regulatory approval from the FCA unlocks the next phase of Incard’s development. Since Incard was launched in 2024, it has gained traction among e-commerce brands, agencies, affiliates and resellers. The platform is already used by brands such as Azio Beauty, Aloe Paris, and Ankhway, and more than £500m has been transacted on Incard by its users to date.
In early February, Incard announced its £10m Series A funding round, which was led by Smartfin and included participation from Founders Capital, MountFund and top-tier angel investors. With this investment, and the EMI licence, Incard will continue to develop its app store and further invest in AI and automation.