01 September 2019

UK FinTech Ipagoo bought out of administration

Written By FinTech Alliance

UK FinTech Ipagoo bought out of administration

Ipagoo, a UK FinTech startup that went into administration earlier this month, has been rescued.

In Brief:

  • Regulators previously told Ipagoo it had to freeze customer accounts.

  • Launched in 2015, the FinTech allows users to transfer currencies and manage multiple bank accounts.

  • 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.

Read more here.

 

 

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