Remagine files for insolvency

Just under a year ago, the fintech had raised 20 million euros. Now Remagine is apparently on the brink of collapse.

The start-up Remagine has filed for insolvency. Torsten Martini has been appointed as the provisional insolvency administrator, as Finance Forward reports.

Last year, the fintech wanted to change its business model from granting corporate loans to becoming a provider of business accounts. Remagine worked together with Solarisbank to achieve this. They wanted to find an investor for the reorientation. However, the plan of founders Sebastian Dienst and Julia Profeta Johansson did not work out.

Just a year ago, the situation for the start-up looked very different: Back then, the Berlin-based company raised 20 million euros. They wanted to pass on part of this as loans to start-ups. The money came from an undisclosed institutional investor from the UK and business angels such as former Global Head of Google Payment Jonathan Weiner and former Venmo CEO Michael Vaughn(we reported). The Berlin-based company won the prize in the "Sustainable Finance" category at the Fintech Germany Awards last October for its revenue-based funding business model.