.EditorialThis material has been selected, created and also revised due to the Finextra editorial staff based upon its importance and rate of interest to our community.According to a spokesperson for the Vilnius Area Court, the insolvency phone call was made after examining the company's economic records and finding that kevin was actually "unable to fulfill its own financial responsibilities punctually".A bankruptcy instance has actually been opened due to the court and also is actually Group has been designated as the bankruptcy administrator..Kevin has considering that introduced that it considers to strike the bankruptcy choice.The court selection denotes a significant fall for the paytech firm which was as soon as flagged as the fastetst increasing fintech in Central and Eastern Europe.Kevin had actually also raised $65m from its own various investors, featuring Accel and Eurazeo.The first indicators of monetary problem were seen in February when a document from on the internet updates internet site Sifted specified that kevin had stopped working to pay for team for two months - claims which were actually refuted by the start-up..And after that in July, the Lithuanian central bank prohibited the business coming from tackling any type of new clients after expanding impatient at the firm's failure to file its annual records promptly. .