United Kingdom · Payments & e-money
Algbra Fs UK Limited
Algbra FS UK Limited is a private limited company registered in England and Wales, with its head office in London. The FCA authorises it as an electronic money institution (FRN 952360) under the Electronic Money Regulations 2011. It trades as Algbra and issues its own Algbra Mastercard debit card as a Mastercard principal member. It offers ethical and Sharia-compliant e-money accounts, multi-currency accounts and cards to consumers. Through Algbra Labs it also sells fintech-as-a-service technology to financial institutions and corporates.
Licences and registrations
Held by Algbra Fs UK Limited (LEI 213800RMKPDXCUO92335). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| FCA Financial Services Register - E-Money InstitutionsFCALinked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised E-Money InstitutionE-Money / Stored Value Institution | 952360 | United Kingdom | Active | 2022-05-31 | — |
|
Search the register ↗ |
Trading names on the register: ALGBRA (FCA-EMI)
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- ALUOGB22XXX head office
- Connection to Swift
- Reverse billingThe institution is connected to Swift. Messages sent to it are billed to the institution, not to the sender. The “2” in the eighth character of ALUOGB22 marks reverse billing.
- Swift GPI
- Not on the member list
- Payment schemes and systems
- No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- Branch codes
- None: head-office BIC only
- BIC first registered
- 2023-10-09
- Last updated
- 2025-09-03
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Employees
Not published
Ownership
Venture-backed
Firm type
E-money and accounts
Trades as Algbra
- Standing
- The company was incorporated as Algebra Group Limited on 28 May 2020. It was renamed Algbra Group Limited on 19 October 2020 and Algbra FS UK Limited on 1 July 2025.
- Ownership
- The firm has disclosed outside investors, including SC Ventures, the ventures arm of Standard Chartered, which announced a strategic investment in April 2024.
- Head office
- 22 Upper Brook Street, W1K 7PZ London, United Kingdom
- Company register
- Companies House 12629086
- Incorporated
- 28 May 2020
- Founders
- Zeiad Idris · Fizel Nejabat · Ömer Düzyol
- Former names
- ALGBRA GROUP LIMITED · ALGEBRA GROUP LIMITED
Online
- Websites & references
- algbra.com ↗
group.algbra.com ↗ group corporate site (team, governance, annual reports)
algbralabs.com ↗ Algbra Labs fintech-as-a-service site
developer.algbralabs.com ↗ Algbra Labs API documentation - Official social accounts
- LinkedIn ↗ · X ↗ · Instagram ↗
- Apps
- App Store ↗ · Google Play ↗
Sources · 15 pages consulted
- find-and-update.company-information.service.gov.uk/company/12629086
- find-and-update.company-information.service.gov.uk/company/12629086/officers
- register.fca.org.uk/servlet/servlet.FileDownload?file=015b0000006CWmx
- algbra.com/
- algbra.com/customer-terms-and-conditions/
- group.algbra.com/
- group.algbra.com/team/leadership/
- group.algbra.com/team/founders/
- algbralabs.com/
- algbra.com/features/ethical-savings/
- algbra.com/news/algbra-expands-fintech-as-a-service-platform-through-new-partnership-with-clearbank/
- algbra.com/news/algbra-labs-joins-clearbank-tech-alliance-expanding-strategic-partnership/
- scventures.io/sc-ventures-makes-strategic-investment-in-algbra-establishes-partnership-with-its-uk-sust
- hyphenonline.com/2026/07/31/gatehouse-bank-algbra-zeiad-idris-alleged-sought-arms-deal-jan-marsalek/
- assets.gatehousebank.com/production/downloads/2026-06-10-Algbra-Customer-Guide-V11.pdf?dm=1781094280
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
The FCA authorises the firm as an electronic money institution under the Electronic Money Regulations 2011 (FRN 952360). It issues its own cards as a principal member of Mastercard. The Ethical Saver Cubes are not its own product: Shoal Limited provides them, and Standard Chartered Bank holds the deposits under FSCS protection.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Conduct Authority United Kingdom | Authorised Electronic Money Institution | 952360 | In its own name | Active | register.fca.org.uk ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsThe firm states that customers' e-money is held in one or more segregated and safeguarded accounts under the Electronic Money Regulations 2011. The FSCS does not cover it.
- Deposit-holding bank
- Standard Chartered Bank United Kingdom
- Payment schemes and card networks
- Mastercard Direct algbra.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
It offers an app-based e-money account with a Mastercard debit card, multi-currency balances, transfers, charitable donations and carbon tracking. Fixed-term Ethical Saver Cubes are provided through Shoal Limited and Standard Chartered Bank. Through Algbra Labs it also provides account, card-issuing and payment infrastructure to other firms.
It serves UK residents and, through its Borderless plan and partner programmes, offers UK accounts to non-UK residents.
- Sells to
- Consumers · Financial institutions · Enterprises · Small businesses
- Serves customers in
- United Kingdom
- Latest funding round
- strategic investment Apr 2024Led by SC Ventures
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
-
Zeiad Idris
Founder & Chief Executive Officer; director
- Chief financial officer
-
Alex Daly
Chief Financial Officer
- Compliance / MLRO
-
Shahrukh Khalid
MLRO & Head of Compliance
- Founder
- Ömer Düzyol Founder & Chief Technology Officer; director
- Executive
-
Tom Mason
Chief Business Officer
- Executive
-
Qi Wen Tang
General Counsel
Recent events
Researched 29 Sep 2026 · Sources
-
Other
Gatehouse Bank put its partnership with the firm on hold after a Financial Times report about the firm's founder and chief executive.
hyphenonline.com ↗ -
Other
The Financial Times reported the founder's pre-launch contacts with Jan Marsalek. The firm said it has had no relationship with Marsalek or Wirecard since it began trading.
hyphenonline.com ↗ -
Leadership
The firm appointed co-founder and Chief Technology Officer Ömer Düzyol as a director on 25 March 2026.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
Adam Sadiq resigned as a director of the firm on 30 December 2025.
find-and-update.company-information.service.gov.uk ↗ -
Other
ClearBank named the firm its first channel partner, reselling its agency banking, Faster Payments and virtual accounts through Algbra Labs.
algbra.com ↗ -
Other
The company changed its name from Algbra Group Limited to Algbra FS UK Limited on 1 July 2025.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
Co-founder Fizel Nejabat resigned as a director of the firm on 11 November 2024.
find-and-update.company-information.service.gov.uk ↗ -
Funding
SC Ventures, the ventures arm of Standard Chartered, announced an undisclosed strategic investment in the firm and a partnership with Shoal.
scventures.io ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
Head-office record
- BIC
- ALUOGB22XXX
- How the BIC breaks down
- ALUOBank
- GBCountry · United Kingdom
- 22Location · reverse billing
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 213800RMKPDXCUO92335
- LEI record
- View on GLEIF ↗
- Licence no. · FCA-EMI
- 952360
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entry: Matched by Elucidate on the UK company number the register gives.
- Register-entry ID
- 3e0ee6cc41d5
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 1 entry on 1 register
- Activities
- Payment services
- E-money / stored value
- Licensed in
- United Kingdom
- Website (register)
- www.algbra.com ↗
- Country · region
- United Kingdom · Europe & Central Asia
- Trading venues (MIC)
- No MIC registered under this LEI list of 2026-09-17
- OFAC sanctions
- No listing cites this BIC
- EU sanctions
- No listing matched this BIC or its LEI
- Country sanctions
- No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Registered address
- 22 UPPER BROOK STREET LONDON W1K 7PZ UNITED KINGDOM
- Operational address
- 22 UPPER BROOK STREET LONDON LONDON W1K 7PZ UNITED KINGDOM
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- Identified by
- BIC, with its LEI
- Roles in CBPR+
- Any agent, including the instructing and instructed agents
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>ALUOGB22XXX</BICFI>
<LEI>213800RMKPDXCUO92335</LEI>
</FinInstnId>Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
<FinInstnId>
<BICFI>ALUOGB22XXX</BICFI>
<LEI>213800RMKPDXCUO92335</LEI>
<Nm>ALGBRA FS UK LIMITED</Nm>
<PstlAdr>
<TwnNm>LONDON</TwnNm>
<Ctry>GB</Ctry>
<AdrLine>22 UPPER BROOK STREET LONDON W1K 7PZ</AdrLine>
</PstlAdr>
</FinInstnId>The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Credits for this page
- FCA Financial Services Register - E-Money Institutions—Financial Conduct Authority (FCA) · register ↗ as at 25 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
- Images—logos and photos from Wikimedia Commons (credited with their author and licence) or from the institution's own website, where Wikimedia has none. Elucidate keeps a copy of each; the links lead to the source and the original image. Logo: algbra.com (official website) · original; Zeiad Idris: group.algbra.com (official website) · original; Alex Daly: group.algbra.com (official website) · original; Shahrukh Khalid: group.algbra.com (official website) · original; Tom Mason: group.algbra.com (official website) · original; Qi Wen Tang: group.algbra.com (official website) · original.
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