.EditorialThis web content has actually been picked, created and also modified due to the Finextra content team based upon its relevance and also passion to our neighborhood.According to a spokesperson for the Vilnius Area Court, the insolvency phone call was created after analyzing the company's financial records as well as locating that kevin was "incapable to satisfy its financial commitments promptly".A bankruptcy instance has been opened due to the court of law and also IS Team has actually been actually assigned as the bankruptcy manager..Kevin has due to the fact that declared that it organizes to strike the insolvency selection.The court choice marks a dramatic succumb to the paytech agency which was actually once flagged as the fastetst expanding fintech in Central as well as Eastern Europe.Kevin had actually likewise increased $65m from its own numerous entrepreneurs, consisting of Accel and Eurazeo.The 1st signs of financial difficulty were actually observed in February when a document from internet information internet site Filtered specified that kevin had actually stopped working to pay for team for pair of months - insurance claims which were actually quashed due to the start-up..And then in July, the Lithuanian reserve bank disallowed the company coming from tackling any new customers after growing impatient at the firm's failing to file its yearly reports promptly. .