First investors interested in Nuri takeover

After the bankruptcy of the Berlin FinTech Nuri, several investors have expressed their interest in taking over the crypto company. This emerges from a press release from the law firm GT Restructuring, which was commissioned to process the insolvency of the Berlin crypto fintech Nuri, and which is available to BTC-ECHO.

It states that initial talks by the provisional insolvency administrator Jesko Stark were “encouraging” and would continue over the next few weeks. “The focus was on the digital platform for banking transactions with over 200,000 customers and the technical know-how that Nuri GmbH has built up around it”. In the meantime, Stark continues to run the company with its 141 employees and is working with the management on a restructuring of the crypto company.

Nuri filed for bankruptcy last Tuesday, August 9, the company confirmed to BTC-ECHO. One reason is said to be a failed financing with Pavilion Capital. No liquidity could be provided from other sources either.

On the FinTech website, which rebranded Bitwala just a few months ago, says that despite the bankruptcy, “all deposits and investments in users’ Nuri accounts are safe through the partnership with Solarisbank AG”. The “euro deposits in the bank account, all bitcoin and ether deposits in wallets and vaults and the Nuri Pot investments” are not affected by the current situation. Customers would still have “guaranteed access” to their money and could “deposit and withdraw it at any time.” Nothing will change about that “for the time being”.

CEO Kristina Walcker-Mayer said in the press release: “We are confident that the insolvency proceedings in the current company situation represent the best basis for developing a long-term viable restructuring concept.” Nuri came under pressure as a result of the bear market and the worsening financing situation for start-ups and laid off 20 percent of the workforce at the end of May. The bankruptcy of the lending service provider Celsius further aggravated the situation. At that time, BTC-ECHO spoke to CEO Kristina Walcker-Mayer about the company’s situation.