The insolvent Internet bank Nuri will cease operations on December 18th. The around 200,000 customers of the Berlin start-up were informed this Tuesday and asked to withdraw all funds and crypto assets by then, the insolvency administrator, the law firm GT Restructuring, said. By the deadline, the company would “fully support you in paying out your deposits,” it said. Nuri filed for bankruptcy in August. As justification, the company pointed to the ongoing after-effects of the corona pandemic and to economic and political uncertainties in the markets caused by the war in Ukraine. Since then, there have been a few interested parties for the company, but in view of the deteriorating market situation, these investors have since jumped out, the law firm said. “The debtor’s business would have needed additional fresh capital of around ten million euros to become profitable.” According to the information at the time, Nuri had around half a million customers and managed assets of around 325 million euros by the time of the insolvency proceedings.
Internet bank – Nuri ceases operations – economy
