.EditorialThis material has actually been decided on, made as well as modified by the Finextra content team located upon its relevance and passion to our community.According to a spokesperson for the Vilnius Area Court, the insolvency call was actually helped make after assessing the provider’s monetary data and also discovering that kevin was “not able to fulfill its financial obligations punctually”.An insolvency scenario has actually been opened due to the court of law and also is actually Team has actually been designated as the insolvency administrator..Kevin has actually due to the fact that announced that it intends to strike the bankruptcy decision.The court selection denotes a dramatic fall for the paytech agency which was once hailed as the fastetst increasing fintech in Central and also Eastern Europe.Kevin had also brought up $65m coming from its own several entrepreneurs, featuring Accel and also Eurazeo.The 1st signs of monetary difficulty were viewed in February when a report from on the internet information website Sifted stated that kevin had neglected to spend team for pair of months – claims which were actually shot down by the startup..And afterwards in July, the Lithuanian central bank disallowed the company coming from tackling any sort of new customers after increasing impatient at the firm’s failure to file its own annual records promptly. .