.EditorialThis material has actually been picked, produced and also revised due to the Finextra content staff located upon its relevance and passion to our community.Depending on to a speaker for the Vilnius Area Court of law, the bankruptcy call was produced after evaluating the provider's economic information and also finding that kevin was "not able to fulfill its own financial obligations promptly".An insolvency situation has levelled by the court and IS Team has been actually assigned as the insolvency administrator..Kevin has actually since declared that it considers to strike the insolvency choice.The court decision denotes an impressive succumb to the paytech firm which was the moment flagged as the fastetst developing fintech in Central and also Eastern Europe.Kevin had also raised $65m coming from its several financiers, featuring Accel and also Eurazeo.The first indicators of financial challenge were seen in February when a file from online headlines internet site Sifted said that kevin had fallen short to spend workers for pair of months - insurance claims which were actually negated by the startup..And then in July, the Lithuanian reserve bank outlawed the company coming from handling any kind of brand new clients after increasing impatient at the provider's failure to file its own yearly records on time. .