UK fintech infrastructure platform Manigo enters administration
Manigo, a London-based fintech infrastructure platform enabling businesses to launch branded financial services, has entered administration.
Manigo enters administration
This is according to a filing made with the UK’s Companies House on 20 September, which reveals that Paul Ellison and Chris Errington of KRE Corporate Recovery Limited, based in Reading, were installed as Manigo’s administrators a week prior.
Founded by CEO Stevan Bajic and Olya Parafiyanovich in 2017, Manigo enabled businesses to launch cards, accounts, and payment services under their own brand.
This fully-managed capability was enabled through the company’s proprietary core banking platform, API suite and white label solutions, a mix of which brands could use to develop financial offerings “in a matter of weeks”, a description on Manigo’s LinkedIn claims.
A source close to the company’s latest developments tells FinTech Futures that the administration was expedited when a “big project failed, which brought everything down”, adding that “everything happened very quickly”.
Manigo and KRE Corporate Recovery were contacted by FinTech Futures for comment.
