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Costs cannot be covered: the next German finance company files for bankruptcy

Costs cannot be covered: the next German finance company files for bankruptcy

The next financial company has to file for bankruptcy in Germany. Vantik’s start-up costs could no longer be covered.

Berlin FinTech Vantik is insolvent. Like “deutsche-startups.de” reported, the startup talks about a “completely amazing” funding round that went off. As a result, the income of Vantikcard and Vantikfonds is currently not enough to cover the costs. Therefore, a provisional insolvency application has now been filed.

However, business operations will continue unabated, at least for the time being. However, at the same time, Vantik is no longer able to pay any new refunds in favor of customers.

“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 is insolvent: here’s what you need to know about the startup

FinTech Vantik has filed for bankruptcy.
FinTech Vantik has filed for bankruptcy.

vantik

Vantik offers its clients digital pension provision in the form of a cash-back system. On the company’s website it says: “Get a one percent cash back on every payment with Vantik’s free Mastercard. We invest the 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 most recently Family Office Custos.

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