.EditorialThis material has been actually selected, developed and also modified due to the Finextra content staff based upon its relevance as well as passion to our area.According to a representative for the Vilnius District Court, the bankruptcy call was actually created after assessing the provider's economic data and also discovering that kevin was "unable to satisfy its own monetary commitments in a timely manner".A personal bankruptcy situation has been opened due to the court of law and also IS Team has actually been selected as the bankruptcy supervisor..Kevin has actually since announced that it plans to strike the insolvency decision.The court decision denotes a dramatic succumb to the paytech agency which was actually as soon as flagged as the fastetst expanding fintech in Central as well as Eastern Europe.Kevin had actually additionally raised $65m coming from its numerous clients, including Accel and also Eurazeo.The first indications of economic difficulty were found in February when a report from on the web news site Looked specified that kevin had failed to spend staff for pair of months - insurance claims which were actually quashed by the start-up..And then in July, the Lithuanian reserve bank disallowed the business from tackling any kind of new clients after expanding impatient at the company's breakdown to submit its annual files promptly. .