.EditorialThis material has actually been chosen, generated and modified due to the Finextra content team based upon its importance as well as interest to our neighborhood.According to a spokesperson for the Vilnius Area Court, the insolvency phone call was actually created after evaluating the provider's economic records and also discovering that kevin was "not able to satisfy its own financial commitments on schedule".An insolvency instance has been opened by the court and IS Group has actually been actually assigned as the insolvency manager..Kevin has considering that introduced that it considers to strike the insolvency selection.The court of law selection marks a remarkable succumb to the paytech agency which was actually as soon as flagged as the fastetst increasing fintech in Central and Eastern Europe.Kevin had actually also brought up $65m from its several entrepreneurs, featuring Accel and Eurazeo.The 1st indications of economic challenge were actually seen in February when a file coming from internet information web site Sifted mentioned that kevin had stopped working to pay for team for pair of months - insurance claims which were shot down by the start-up..And afterwards in July, the Lithuanian central bank disallowed the provider coming from handling any sort of brand new customers after developing impatient at the provider's breakdown to file its own annual files on time. .