ICYMI: German fintech Nuri files for insolvency amid market downturn
The insolvency proceedings will not affect users’ funds, Nuri assured, thanks to the firm's partnership with Solarisbank, another Germany-based fintech firm. Users can still access their deposits of euro, bitcoin, ether and Nuri Pot investments through the app.
“For the time being, nothing will change and Nuri's app, product and services will continue to run,” the company wrote. The insolvency is the latest move made by the German firm amid the recent market downturn. In late May, the company laid off 20% of its employees.Crunchbase . The firm is funded by 13 investors, including Earlybird Venture Capital and Sony Financial Ventures.
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