Insolvency

Lithuanian fintech kevin stated bankrupt

.EditorialThis content has actually been decided on, generated and also revised due to the Finextra content crew based upon its significance as well as rate of interest to our community.According to an agent for the Vilnius Area Court of law, the bankruptcy phone call was actually helped make after examining the company's financial information as well as discovering that kevin was "unable to fulfill its own financial commitments in a timely manner".A personal bankruptcy situation has actually been opened by the court and is actually Group has actually been actually assigned as the bankruptcy manager..Kevin has actually because introduced that it intends to appeal the bankruptcy decision.The court choice marks a dramatic succumb to the paytech firm which was once hailed as the fastetst increasing fintech in Central and also Eastern Europe.Kevin had likewise reared $65m from its various capitalists, consisting of Accel as well as Eurazeo.The 1st signs of financial problem were actually viewed in February when a record from internet news web site Filtered said that kevin had fallen short to pay for workers for pair of months - claims which were actually quashed by the start-up..And after that in July, the Lithuanian reserve bank banned the company from taking on any sort of new customers after expanding impatient at the provider's failure to submit its yearly reports on time. .

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