Wefox faces insolvency amid financial challenges 😲; Kudos raises $10M to expand AI-powered smart wallet 🤖👛

FinTech is Eating the World, 17 May

Hey Everyone,

Good morning & happy Saturday! We’re finishing off another fascinating week in FinTech on Saturday, but it’s absolutely worth the wait. Today we’re going to look at Wefox that’s facing insolvency amid financial challenges (what it’s all about & what’s next), and Kudos which just raised $10M to expand AI-powered smart wallet (what’s the USP & why it’s interesting). Let’s jump straight into the intriguing stuff 🌶

Wefox faces insolvency amid financial challenges 😲

The news 🗞️ European insurance technology unicorn Wefox is facing severe financial troubles that could lead to insolvency by August, according to a memo from CEO Mark Hartigan to shareholders.

Let’s take a look at this, see what it means and what’s next.