Incard has obtained an Electronic Money Institution licence from the UK's Financial Conduct Authority, enabling it to directly issue e-money and expand its financial platform.
Following this announcement, Incard, a financial platform targeting high-growth digital companies, has received authorisation as an Electronic Money Institution (EMI) from the Financial Conduct Authority (FCA) in the UK. The licence grants the company the ability to directly issue e-money, provide payment and card accounts, and offer foreign exchange services without relying on third-party infrastructure.
The development marks a regulatory milestone for the company, which launched in 2024 and has since built a platform aimed at ecommerce brands, agencies, affiliates, and resellers. To date, users have transacted more than GBP 500 million through the platform.
Regulatory authorisation and platform scope
According to the official press release, FCA authorisation as an Authorised Electronic Money Institution gives Incard greater operational autonomy within the UK's regulated payments framework. The FCA's EMI regime requires firms to meet capital adequacy requirements, safeguard client funds, and maintain compliance with the Electronic Money Regulations 2011, placing Incard within a well-established regulatory structure designed for non-bank payment service providers.
The licence supports what the company describes as an 'orchestration layer' — a unified platform that brings together business banking, corporate cards, cash flow management, invoicing, and advertising spend management into a single interface. The aim is to address fragmentation in the banking and payments infrastructure that Incard says has historically underserved digital entrepreneurs.
According to a company representative, the EMI status allows the firm to respond more directly to client needs and accelerate product development, particularly in areas such as automation and artificial intelligence.
Funding and growth trajectory
The FCA licence follows Incard's announcement in early February 2026 of a GBP 10 million Series A funding round. The company has indicated that the combined effect of the funding and the regulatory approval focused on expanding its app store offering and further investment in AI-driven capabilities.
In addition, with the EMI licence in place, Incard is positioned to deepen its product stack and potentially broaden its regulated services offering as it scales. The company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
