.EditorialThis material has actually been picked, developed as well as edited by the Finextra editorial crew based upon its significance and also passion to our community.Depending on to a representative for the Vilnius District Court, the insolvency telephone call was created after reviewing the business's financial data and also discovering that kevin was "not able to satisfy its own monetary commitments on time".A personal bankruptcy situation has been opened by the court of law and also IS Team has actually been actually selected as the bankruptcy administrator..Kevin has actually since revealed that it plans to appeal the insolvency selection.The court of law selection marks a significant fall for the paytech company which was when addressed as the fastetst expanding fintech in Central and also Eastern Europe.Kevin had additionally increased $65m coming from its own different financiers, consisting of Accel and also Eurazeo.The first indicators of monetary problem were found in February when a record from online updates site Filtered stated that kevin had neglected to pay workers for 2 months - insurance claims which were refuted by the start-up..And afterwards in July, the Lithuanian central bank disallowed the firm from handling any sort of brand-new customers after increasing impatient at the company's failing to submit its annual documents punctually. .