Failed round of financing: German FinTech Vantik files for bankruptcy
Friday, 06/03/2022, 08:36
The German FinTech Vantik has to file for bankruptcy. As the company informs, the costs can currently no longer be covered by the income.
The Berlin FinTech Vantik is insolvent. As “deutsche-startups.de” reports, the startup speaks of a “completely surprising” round of financing that burst. As a result, the income from the Vantikcard and the Vantikfonds is currently not sufficient to cover the costs. Therefore, a provisional application for insolvency has now been filed.
However, business operations will continue unabated, at least for the time being. At the same time, however, Vantik can no longer pay out new cashback in favor of customers.
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After bankruptcy: Vantik is looking for a financial investor
“The team around Vantik founder Til Klein wants to pursue the goal and achieve a joint takeover of the company with the participation of a financial investor,” said insolvency administrator Christian Otto.
Vantik offers its customers digital pension provision in the form of a cashback system. The company’s website states: “Get a one percent cashback with every payment with Vantik’s free Mastercard. We invest the money for you sustainably and profitably until you retire”.
The FinTech was founded in 2017 by Til Klein and Lara Hämmerle. In recent years, Vantik has received financial support from Atlantic Labs, Seedcamp, STS Ventures, N26 founder Max Tayenthal and most recently from Family Office Custos.
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The original of this article “German FinTech Vantik files for bankruptcy” comes from chip.de.