DAREX Tier: Not applicable (digital assets service providers only)

Paylinq operates as a high-risk payment service provider (PSP) and B2B settlement engine catering to the offshore casino and iGaming sector. Operating through a recently dissolved UK corporate shell (PAYLINQ LTD), the platform provides virtual accounts and checkout links specifically designed to circumvent standard banking blocks on offshore gambling transactions.

R42 Risk Signal

🔴 RED: Critical Risk | Confidence Grade: High

Reasoning: Based on the RatEx42 Risk Rating Methodology, Paylinq exhibits the defining characteristics of a “Critical Risk” entity. It is an entirely unlicensed and unregulated payment provider utilizing a now-dissolved “burner” shell company in the UK. The platform functions as a stealth gateway, actively providing virtual accounts and multi-hop routing to absorb and process payments for high-risk offshore casinos, effectively shielding transactions from acquirer scrutiny and banking compliance controls.

4) Key Data Table

Operational Overview

Paylinq provides bespoke payment architecture for the offshore and gray-market iGaming industry. The core business model revolves around:

• Virtual Account Issuance: Generating dedicated virtual IBANs/accounts for end consumers, masking the final destination of funds.

• Virtual Terminals & Payment Links: Allowing high-risk merchants to bypass traditional payment gateway integrations by sending customized checkout links directly via SMS (“Text&Pay”) or email.

• B2B Settlement & Masking: Routing casino deposits through intermediary masking layers before finalizing settlement to the merchant, effectively evading automated transaction blocks implemented by major clearing banks.

Regulatory Framework

PAYLINQ LTD holds no licenses with the UK Financial Conduct Authority (FCA) or any other recognized European regulator. It leverages regulatory arbitrage by establishing a UK corporate footprint to appear legitimate while deliberately avoiding financial oversight.

Ownership & Executives

• Tsvetan Valentinov Valchev (Director/PSC): A Bulgarian national who assumed control of the company on June 27, 2025. His correspondence address is listed as Lyulin, Sofia, Bulgaria.

• Harel Haroosh (Founding Director/PSC): An Israeli national who registered the entity on February 14, 2024, and resigned in June 2025. Haroosh acts as a serial proxy director, operating a network of similarly structured, short-lived UK shell/fintech companies (e.g., Transflo Fintech Ltd, Blackrock Fintech Holdings Ltd, Spectomnis Ltd).

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Corporate Structure

The entity utilizes a classic “burner shell” typology. Registered at a mass-registration virtual office in London (Great Portland Street), the company establishes a temporary facade of UK legitimacy. After operating for a short period—enough time to process high-risk volumes and transition proxy directors—the entity was formally dissolved on April 7, 2026, effectively burying its audit trail while the underlying domain and platform persist.

Technical Footprint

• API & Hosted Checkouts: Utilizes third-party documentation and headless API architectures (such as integrations visible via QorCommerce) to manage checkout flows off-domain.

• Decoupled Settlement: Heavy reliance on externalized payment links (SMS/email) rather than direct on-site integrations, which obscures the payment chain from the merchant URL to the backend settlement domain.

Merchant/Customer Footprint

Targeted exclusively at high-risk, unverified, or offshore merchants, primarily in the iGaming and unlicensed casino verticals. Consumer exposure is largely unconsented, as end-users deposit funds into what they believe are standard accounts, only for the funds to be aggregated and routed offshore.

nforcement/Litigation History

There are no formal international sanctions currently targeting PAYLINQ LTD directly. However, the company’s operational blueprint matches the exact AML/CFT evasion typologies routinely highlighted in warnings from the FCA, FinCEN, and European financial intelligence units regarding transaction laundering.

Red Flags

• Dissolved Corporate Status: Continued technical operations despite processing financial transactions through a legally dissolved corporate entity.

• Mass-Registration Address: Use of a known virtual office at 85 Great Portland Street, London, shielding physical operations.

• Proxy Director Swaps: Handover of corporate control from an Israeli serial director to a Bulgarian proxy shortly before the company’s dissolution.

• Evidentiary Business Model: Explicit marketing of tools designed to bypass bank transaction blocks.

Merchant Due-Diligence Checklist

• Acquirer Action: Do not process. Immediate suspension of API access and corresponding accounts.

• Compliance Protocol: Flag any historic transaction volumes routed through PAYLINQ LTD or paylinq.co.

• SAR Filing: File Suspicious Activity Reports (SARs) with relevant financial intelligence units (e.g., the NCA in the UK) if direct exposure to this entity is identified.

Evidence Box (Sources)

• UK Companies House Profile (PAYLINQ LTD – 15488709): find-and-update.company-information.service.gov.uk/company/15488709

• UK Companies House – Officers & PSCs: find-and-update.company-information.service.gov.uk/company/15488709/officers

• Harel Haroosh Corporate Network: find-and-update.company-information.service.gov.uk/officers/lXQgYl1YdvaA2BXVz08k-_xGp6k/appointments

• RatEx42 Risk Rating Methodology: listings.ratex42.com/the-ratex42-risk-rating-methodology/

Update Log

• Profile Created: April 25, 2026.

• Last Status Check: Entity confirmed dissolved as of April 7, 2026.

Whistle42 Call to Action

Are you an industry insider, former employee, or merchant with direct knowledge of Paylinq’s current operational infrastructure, hidden beneficial owners, or partner acquiring banks? Submit your intelligence securely and anonymously through the Whistle42 secure drop to help regulators and compliance teams unmask shadow payment rails.