Koto, one of the UK’s first ‘challenger lenders’ – a credit provider built on e-money – is launching officially in the UK today alongside the close of an approx. Koto’s low, fixed and easy-to-understand fee structure takes the fear out of credit alongside an enjoyable, totally mobile experience. Koto is FCA authorised and consumers can use the virtual card to make purchases wherever Mastercard is accepted. Koto’s entire offering is purely app-based, where its mascot, the koto cat, makes monitoring cash flow and applying for credit stress-free and accessible. Koto is being launched in the UK by Executive Chairman Misha Rogalsky, the co-founder of Ukraine’s first mobile-only bank, monobank.