HY10 is preparing to make its market debut in Q4 2025, launching a bold initiative to address the service gaps facing Ultra High Net Worth Individuals (UHNWIs) in traditional banking and investment sectors. The UK-based industry newcomer is the brainchild of Otar Ramishvili, George Shamugia, and former Ukash chief David Hunter, who now leads the company as CEO.
Announcing the launch via LinkedIn, Hunter reveals how the venture has been three years in the making, which included two years of contracting 2,000 luxury lifestyle partnerships, and a further nine months obtaining the correct regulatory approvals. HY10, formerly known as Orbital Cards, is currently licenced as an Electronic Money Institution by the Financial Conduct Authority.
“At HY10, we believe UHNWIs deserve clarity, speed, and simplicity in their payments and lifestyle services — not more friction,” Hunter said in the announcement made in late August, adding that the company will look to emerge from beta and “fully launch next month”.
Its opening proposition will combine multi-currency accounts, Visa-issued metal cards and an ‘inner circle’ feature, which enables account holders to grant advisors or personal assistants access to manage daily finances, with a suite of concierge services providing access to luxury travel and lifestyle experiences.
Prospective customers are now being invited to join a waitlist via HY10’s website, with Spear’s Magazine reporting an annual fee of £10,000 for the service. The publication also states that HY10 is currently bootstrapped by its founding team, supported by a series of unnamed angel investors and previous exits made from former ventures. Shamugia previously founded i-gaming infrastructure start-up Singular in 2009, a venture which was ultimately acquired by Flutter Entertainment, an online sports betting and gaming company, for €50 million in 2021. FinTech Futures contacted HY10 for comment.
Source: https://www.fintechfutures.com/
