The costs cannot be covered: the following German financial company files for bankruptcy
Another German financial company is filing for bankruptcy. As startup Vantik has now emphasized, costs can no longer be covered by income. We summarize the details here.
Berlin FinTech Vantik is insolvent. As deutsche-startups.de reports, the startup is talking about a “completely surprising” funding round that has gone off. As a result, income from Vantikcard and Vantikfonds is currently insufficient to cover costs. Therefore, a provisional application for insolvency has now been filed.
However, business operations will continue unabated, at least for the time being. However, at the same time, Vantik can no longer pay any new cashback in favor of customers.
“The team surrounding Vantik founder Till Klein wants to pursue the goal and achieve a joint acquisition of the company with the participation of a financial investor,” said insolvency director Christian Otto.
Vantik Pinching: Here’s What You Need to Know About Startup
Vantik offers its customers a digital pension in the form of a cashback system. It reads on the company’s website: “Get 1 percent cashback with every payment with your free Vantik Mastercard. We invest money for you sustainably and profitably until you retire.”
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 more recently from Family Office Custos.
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