Ipagoo, a UK FinTech startup that went into administration earlier this month, has been rescued.
In Brief:
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Regulators previously told Ipagoo it had to freeze customer accounts.
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Launched in 2015, the FinTech allows users to transfer currencies and manage multiple bank accounts.
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It’s been bought by Anglo-Dutch investment group Chairman Financial.
What does this mean?
There has not been a lot of information on why the freeze happened, but the Financial Times has suggested the firm suffered due to non-payment following a funding round.
