Wirecard innovation team joins finleap

One innovation team from collapsed FinTech giant Wirecard has joined Berlin-based FinTech finleap.

The six team members of the team used to be part of Wirecard’s innovation labs will support companies in their digital transformation, Reuters reported.

finleap is a European FinTech builder that focuses on building tech companies working in the banking, insurance and asset management industries. It raised €41.5m to that end in a round led by Chinese financial services firm Ping An’s Global Voyager Fund in 2018.

Last week FinTech global reported that Railsbank’s acquisition of Wirecard’s UK business had entered a new phase with the two parties having signed a term sheet agreement.

At the same time, Wirecard Card Solutions officially begun the processes of winding down the business. The deal is expected to close in November.

Payment processor Wirecard filed for insolvency on June 25 after $2.1bn of its finances were revealed to be missing. The company then announced that the money may have never existed in the first place.

Authorities are now investigating an alleged worldwide multi-billion fraud connected to the once celebrated German FinTech.

Since the collapse of the company in June, several members of the company’s executive leadership have either been arrested or are being sought after by international authorities.

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