What does our research say about Gurhan Kiziloz?

Gurhan Kiziloz is the CEO and founder of Lanistar, a fintech company that has faced several regulatory and financial challenges.

Regulatory Concerns and Warnings

In April 2021, the UK’s Financial Conduct Authority (FCA) issued a warning against Lanistar, the fintech company founded by Gurhan Kiziloz, for operating without FCA authorization. This warning raised concerns about the legitimacy of the company and warned consumers about the potential risks involved in engaging with Lanistar. Operating without proper regulatory approval is a serious issue in the financial services sector, and the warning put the company under significant scrutiny.

Financial Transparency Issues

Lanistar faced significant questions about its financial transparency. In 2020, the company filed unaudited accounts showing total equity of £5.46 million. However, this was in stark contrast to the £15 million the company claimed to have raised in June 2020, which was initially attributed to an external backer, Milaya Capital. Later, it was revealed that Milaya Capital had withdrawn, and the £15 million was, in fact, a director’s loan from Kiziloz’s family.

Controversial Marketing Practices

Lanistar’s marketing practices have also come under fire. Reports indicated that the company used influencers to promote its services by offering them shares in exchange for endorsements.

Lanistar, under the leadership of Gurhan Kiziloz, has encountered significant regulatory and financial challenges, as well as scrutiny over its marketing practices.