.EditorialThis information has been actually decided on, created and revised due to the Finextra editorial group located upon its importance and also passion to our neighborhood.Depending on to a speaker for the Vilnius District Court, the insolvency phone call was actually helped make after evaluating the provider's economic data as well as locating that kevin was "unable to fulfill its financial responsibilities in a timely manner".An insolvency situation has actually been opened due to the court as well as IS Group has been assigned as the insolvency supervisor..Kevin has actually given that declared that it considers to appeal the insolvency choice.The court decision marks a dramatic fall for the paytech firm which was actually once addressed as the fastetst growing fintech in Central as well as Eastern Europe.Kevin had likewise increased $65m coming from its a variety of financiers, featuring Accel and also Eurazeo.The very first indicators of financial difficulty were seen in February when a file from online updates site Looked explained that kevin had actually neglected to spend staff for 2 months - claims which were actually negated due to the start-up..And afterwards in July, the Lithuanian reserve bank outlawed the company coming from handling any type of brand new clients after growing impatient at the company's breakdown to file its own yearly documents in a timely manner. .