Berlin-based Nuri (formerly known as Bitwala), a digital bank, announced that it has ceased operations as the company failed to secure funding or an acquirer.
CEO Kristina Walcker-Mayer stated in a blog post on the company’s website that they have not been able to attract investors to continue their objective.
Kristina says, “During the preliminary insolvency proceedings, we have worked very closely with our insolvency administrators on a restructuring plan in the past 3 months and tried to find a potential acquirer to continue our story. Unfortunately, we have not been able to find investors to continue our mission.”
Nuri asked its customers to withdraw their funds by December 18, 2022, so that the “business can be terminated and liquidated.”