- Company Closure:
- London-based fintech Kikapay, founded in 2018, is winding down operations.
- Platform facilitated single immediate and fixed recurring payments via open banking.
- Financial Situation:
- Last secured funding in a 2021 seed round; no recent investments mentioned.
- LinkedIn announcement states the company’s journey has “come to an end” due to tough economic conditions.
- Liquidation Process:
- Joint liquidators Douglas Pinteau and Dermot Coakley appointed on 16 January.
- Startup was “wound up voluntarily” according to business filings.
- Industry Trends:
- Closure follows mid-year reports of open banking-enabled payments exceeding 11.4 million in July 2023.
- Broader Context:
- Paysme, another UK fintech, recently closed, citing challenges during and post-COVID affecting financial strength.
UK open banking fintech Kikapay winds down
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