.EditorialThis information has actually been picked, developed and edited due to the Finextra content staff located upon its importance and rate of interest to our neighborhood.Depending on to an agent for the Vilnius District Court, the insolvency call was made after reviewing the business's monetary data and discovering that kevin was "incapable to fulfill its own monetary obligations punctually".An insolvency instance has actually been opened due to the court and also IS Team has been appointed as the bankruptcy administrator..Kevin has actually given that introduced that it considers to appeal the insolvency decision.The court of law selection notes a significant succumb to the paytech agency which was actually as soon as flagged as the fastetst expanding fintech in Central and Eastern Europe.Kevin had actually likewise increased $65m from its different financiers, featuring Accel and also Eurazeo.The 1st indicators of economic difficulty were actually found in February when a report from internet updates internet site Filtered specified that kevin had actually neglected to pay out staff for 2 months - claims which were actually negated by the startup..And after that in July, the Lithuanian reserve bank disallowed the company from taking on any brand new clients after growing impatient at the business's breakdown to submit its own yearly documents on schedule. .