Investor process for Neobank Ruuky starts

After the Hamburg-based fintech filed for insolvency, 20 interested parties have already come forward.

Hamburg-based Neobank Ruuky recently filed for insolvency proceedings to be opened. The insolvency administrator Jens-Sören Schröder, partner at the law firm Johlke Niethammer, states that he has already received 20 expressions of interest. Among the interested parties are strategic investors such as banks and fintechs as well as private equity companies.

"Due to the remarkable level of investor interest at this early stage, I am very confident that the search for investors for Ruuky will be successful," says Schröder. Many banks and other financial service providers are currently looking for strategies to digitally address young people and retain them as customers. "Ruuky has this special expertise and can now act as a growth driver for established market players." The company, which was founded in 2020, has not been able to close any further financing rounds in recent months. "Setting up a neobank is capital-intensive due to the complex regulatory requirements, so despite our positive developments, we have not managed to raise new capital in the current market environment," says Ruuky co-founder and CEO Jes Hennig. The insolvency proceedings are intended to preserve the jobs of the 20-strong team.