.EditorialThis content has been decided on, created and also revised due to the Finextra content crew based upon its relevance as well as passion to our neighborhood.According to a speaker for the Vilnius District Court of law, the insolvency telephone call was actually created after examining the firm's financial records and discovering that kevin was actually "unable to fulfill its financial obligations on time".An insolvency scenario has actually levelled by the court of law and IS Group has been selected as the insolvency manager..Kevin has considering that revealed that it organizes to strike the bankruptcy choice.The court decision marks a significant fall for the paytech firm which was actually as soon as hailed as the fastetst increasing fintech in Central and Eastern Europe.Kevin had also increased $65m coming from its own several entrepreneurs, featuring Accel and Eurazeo.The 1st signs of monetary problem were actually observed in February when a file from on-line news website Sifted mentioned that kevin had failed to pay out personnel for pair of months - insurance claims which were actually negated by the startup..And then in July, the Lithuanian central bank prohibited the provider coming from handling any brand-new customers after developing impatient at the company's failing to submit its yearly records in a timely manner. .