Transak Limited

Reference number: 928910

Instant download

On the register, but not FCA authorised

This firm is registered with the FCA for anti-money-laundering checks only, which is how cryptoasset firms are registered. That is not authorisation: the FCA does not oversee how it treats customers, and FSCS protection does not apply.

What does this mean?
  • Some businesses are required by law to have an anti-money-laundering supervisor. For this kind of business that supervisor is the FCA, and the registration is the only reason the firm appears on the FCA register.
  • What the FCA checks is narrow: that the firm identifies its customers, keeps records, and reports suspicious activity. It is the anti-crime paperwork behind a bank asking you for ID.
  • It does not check anything about you as a customer. Not whether the firm treats you fairly, not whether it is financially sound, not whether what it sells is any good. The FCA describes firms registered this way as “not authorised or subject to wider FCA regulation”.
  • So if the firm fails or treats you badly, there is no compensation to fall back on. The FCA's own position is that crypto is largely unregulated in the UK and that compensation for crypto losses is highly unlikely.

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

In the full report: 3 background checks

  • When transak.com first appeared online, and whether it can receive email
  • What kind of line 07769 218622 is
  • Who else gives the postcode SW1W 0AU
Instant PDF download
Other names (1)

If you were contacted under any of these names, it is this firm.

  • Light Technology Limited Former name

Past FCA permissions and consumer protection

  • Money-laundering registration only
    This firm is registered for anti-money-laundering supervision only. It is not FCA-authorised. Money you hand over is not protected by the FSCS, and the Financial Ombudsman Service generally does not cover unregulated cryptoasset activity.

FCA disciplinary action and complaints

No FCA disciplinary action.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company number
11539646
Company status
Active
Company type
Private limited company
Incorporated
28 August 2018 (8 years old)
Registered office
Transak Limited. 7, Pancras Square, London, N1C 4AG, England
Nature of business
  • Financial intermediation not elsewhere classified (SIC 64999)

Directors and company secretaries

Name Role Born Appointed Other companies
Sami James Start Director May 1991 28 Aug 2018 1 other company
James Young Director Oct 1991 21 Oct 2026 None
Sami James Start Secretary Not published 20 Oct 2023 –

Other companies run by these 2 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other company
1
closed down
1

In the full report: all 1 company, named

  • What each company does, and whether it is still trading
  • Which of these 2 directors sit on each board, and since when
  • Any that went into liquidation or administration
Instant PDF download

Filed accounts and finances

Year to 31 December 2024Full accountsAudited

Turnover

£255.0m

Not compared: the previous accounts cover a different length of time

Profit before tax

−£15.0k

Not compared: the previous accounts cover a different length of time

Net assets

−£576k

No earlier figure to compare

Cash at bank

£1.02m

−22% from £1.30m

Net assets are negative: on its last balance sheet the company owed £576k more than it owned.

Assets and liabilities

In the full report: all 6 years of accounts

  • Every year from 2019 to 2024
  • The chart, over every year
  • Every filed figure, year by year
Instant PDF download
About these figures
Turnover
Money taken from sales in the year, before any costs.
Profit before tax
What was left after the year’s costs, before corporation tax. A minus figure is a loss.
Net assets, or total equity
Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
Total assets and total liabilities
Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
Cash at bank
Money in the company’s accounts on the last day of the year.
Owed within a year, owed after a year
Debts and bills due in the next twelve months, and those due later.

Accounts filed at Companies House for company 11539646. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.

Key dates in its history

Transak’s history from the FCA register and Companies House, newest first.

Key events (7) All events (10)

2023

18 October 2023

  • Changed its registered name from "Light Technology Limited"

FCA register

2022

4 January 2022

  • Regulated by the FCA from this date
  • Registered with the FCA

FCA register

2021

16 September 2021

  • Transak, Inc. took control (75–100% of shares)

Companies House

2020

8 October 2020

  • Sami James Start gave up control

Companies House

2018

28 August 2018

  • Incorporated at Companies House
  • Sami James Start took control (75–100% of shares)

Companies House

In the full report: all 10 events

  • All 10 events in its history (7 shown here)
  • Every director appointment and resignation: 2
Instant PDF download

Get the full report on Transak

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 1 other company its directors have run, named
  • 3 background checks on its contact details
  • 6 years of accounts, charted
  • All 10 events in its history

Instant PDF One-off payment Secure checkout by Stripe

Frequently asked questions about this firm

Is Transak Limited FCA authorised?
Transak Limited (FRN 928910) is registered with the FCA under the Money Laundering Regulations only. That is anti-money-laundering supervision, not FCA authorisation, and the FCA does not supervise the firm's conduct.
What is Transak’s phone number and website?
The FCA register lists the phone number 07769 218622 and the website transak.com for Transak. If you were given different contact details, use these to check with the firm before going any further.
Is Transak a scam or clone?
Transak is genuinely on the FCA's money-laundering register, so it is not an outright fake, but registration is not authorisation, and scammers impersonate registered firms too. Verify contact details against the register before sending money.
Is my money safe with Transak?
Money you hand to Transak is not protected by the FSCS. Money-laundering registration carries no compensation scheme, and the Financial Ombudsman Service may not be able to consider a complaint about unregulated business.
Who owns Transak?
Transak is owned by Transak, Inc., which holds 75–100% of shares, since 16 September 2021. Before that, it was controlled by Mr Sami James Start.
Who runs Transak?
Companies House lists 2 directors of Transak: Sami James Start and James Young.
How long has Transak been in business?
The company was formed on 28 August 2018.
What do Transak’s latest accounts show?
Its latest accounts, to 31 December 2024, show turnover of £255.0m (not compared: the previous accounts cover a different length of time) and profit before tax of −£15.0k (not compared: the previous accounts cover a different length of time).
Does Transak use any other names?
It has previously used the name Light Technology Limited.

Sources and links

The full report on Transak Limited

£19.99 · Instant PDF download

Loading secure checkout…