Insolvency proceedings initiated at Vantik

According to the Berlin-based fintech Vantik, a financing round has unexpectedly collapsed. Now it has had to file for insolvency.

The Berlin-based fintech Vantik has filed for preliminary insolvency. The start-up now informed its users about this in an email. A financing round had "surprisingly" burst, it stated as the reason. The email goes on to say that European economic growth is currently "rather restrained" and 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 is invested in the pension plan after each purchase. Vantik emphasizes in its e-mail that the fund shares are protected, the cards would continue to function and "(almost) no impact" is to be expected for the user. The saved fund balance was "absolutely safe" with the partner bank DAB BNP Paribas.Nevertheless, according to Vantik, no cash back could be paid out at the moment. The Vantik team would also continue to work on an "investor solution" - if a new investor were to step in, the insolvency could still be halted.

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