The fintech is in distress because of the crypto crash.
(Photo: Nuri)
Frankfurt, Dusseldorf The situation at the Berlin fintech Nuri is coming to a head. The ailing crypto bank urgently needs new capital, several people familiar with the topic told the Handelsblatt. However, discussions with investors proved difficult.
The search for new financiers has not yet finally failed. However, the chances of raising new investor funds in the short term have dropped significantly in view of the insolvency of US partner Celsius, insiders said. Nuri did not want to comment when asked by the Handelsblatt.
Nuri is the first German fintech to get into trouble because of the crypto crash. Many in the financial sector are following the development closely because the question arises as to how great the risk of contagion between the crypto market and the regulated banking system is now. Nuri himself does not have a banking license, but has been working with Solaris from Berlin since 2018. The partnership enables Nuri to offer fully licensed bank accounts with debit cards via Solarisbank’s infrastructure.
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