Insolvency proceedings initiated at Vantik

According to the start-up, a financing round at Berlin fintech Vantik has unexpectedly collapsed. It has now had to file for insolvency.

The Berlin-based fintech Vantik has filed for provisional insolvency. The start-up has now informed its users of this in an email. The reason given was that a financing round had "unexpectedly" collapsed. The email also states that European economic growth is currently "rather restrained" and that there have been fluctuations on the stock market, which has also affected Vantik.

Vantik offers a fund-linked private pension plan and has also developed Vantikcard, a card where one percent of the value of every purchase is invested in the pension plan. In its email, Vantik emphasizes that the fund units are protected, the cards will continue to work and "(almost) no effects" are to be expected for the user. The saved fund assets are "absolutely safe" with the partner bank DAB BNP Paribas, but according to Vantik, no cashback can be paid out at the moment. The Vantik team would also continue to work on an "investor solution" - if a new investor were to come on board, insolvency could still be averted.

According to Vantik, it has turned over twelve million euros since September 2021 and invested over five million euros for its customers.