London fintech KAF Technology could be in court later this month after being sent a winding-up petition by payments firm Thredd.
The Southgate-based business, which has 17 staff according to LinkedIn data, was sent the petition on 27 March.
A court hearing at the Business & Property Courts on Fetter Lane, London, is scheduled for 9 April.
A winding-up petition is a type of legal action that can be pursued by a business which is owed money that it has been unable to attend. It is a request that the company be liquidated in order to recover its assets for the purposes of paying off debts.
Creditor Thredd is a London-based payments processing business founded in 2015 which works with some of Britain’s biggest fintechs, including Zilch, Curve and Pockit.
In its most recent accounts, the Holborn-based company, which has 318 employees, posted revenues of £31.8m against losses of £32.2m.
KAF Technology, which offers card management system software as well as blockchain, NFT and crypto solutions, was founded in February 2023 and owed more than £100k to creditors, according to its most recent accounts.
Thredd’s solicitor for the petition is Coventry-based Coltman Warner Cranston.
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