Tag: Germany

Wirecard investors are suing the German regulator BaFin for allegedly having turned a blind eye against the evidence that things weren't what they should've been at the collapsed FinTech.

Markus Braun, the former top boss at disgraced FinTech giant Wirecard, has been arrested for a second time in Munich for his alleged role in a multi-year fraud.

Digital business bank Penta has collected €4m in a new funding round, adding to the €18.5m it raised in March for its Series B.

The collapse of Wirecard has sent shock waves through the FinTech industry, cut customers off from their money and raised some serious questions about the role of regulators.

Germany-based solarisBank AG has closed its Series C round on €60m, with HV Holtzbrinck Ventures leading the round.

FinTech Wirecard has filed for insolvency after a week of turmoil that saw it unable to account for a $2.1bn hole in its balance sheet and its former CEO being arrested on fraud allegations.

Having resigned on Friday as Wirecard's CEO, Markus Braun has now been arrested on charges of inflating the company's balance sheet.

The Wirecard scandal sweeping across the European FinTech space intensified over the weekend with CEO Markus Braun leaving the company as the board says the missing €1.9bn ($2.1bn) "do not exist."

The highly publicised collapse of Wirecard has taken another turn with German prosecutors having arrested the head of the company's Dubai-based subsidiary.

TIS (Treasury Intelligence Solutions), a cloud-based platform for managing payments and cashflows, has secured $20m in its funding round.