Ziglu
“Can a UK crypto-and-e-money app bridge traditional and digital currencies at retail scale within tightening FCA regulatory constraints?”
Founded2018
HQLondon, United Kingdom
FoundersMark Hipperson, John Humpish
Total raised$32.07M
IndustryFintech / Crypto
The story
Founded in 2018 as Livecon Services, Ziglu repositioned as a UK-based app combining traditional e-money with cryptocurrency access, obtaining FCA EMI authorisation and AML crypto registration. The company attracted significant crowdfunding and was briefly targeted for acquisition by Robinhood before that deal fell through. Ongoing losses (£4.4M in 2023, £15.8M in 2022), a 2023 FCA Section 166 review, and regulatory restrictions in 2025 ultimately led to special administration in July 2025, leaving customers approximately £2.2 million out of pocket.
Last 12 months
Product timeline
2018
Founded as Livecon Services, repositioned as Ziglu — a UK fintech app bridging traditional and digital currencies.· pivot
2021
Partnered with ClearBank to offer virtual GBP bank accounts with access to Faster Payments and other UK payment schemes.· banking
2022
Robinhood announced acquisition of Ziglu; deal later abandoned.· acquisition
2023
Subjected to FCA Section 166 skilled person review; reduced trading activity and client onboarding.· pivot
2024
Acquired Damex (crypto-focused fintech) to expand product suite.· acquisition
2025
FCA placed restrictions on Ziglu in May 2025; company ceased payments and cryptoasset activities in June 2025 and entered special administration in July 2025.· pivot
Regulated entities
EMI
UK FCA
Ziglu Limited
Crypto Asset Firm (AML registration)
UK FCA
Ziglu Limited
The stack
Accounting gap: none