Wirecard
FintechGermanyClosed 2020
Total Raised
Undisclosed
Peak Valuation
$24B
Employees
5,800
Year Collapsed
2020
Business model
Digital payment processing for merchants globally.
In brief
A German payments processor that grew into a DAX-30 index member, Wirecard collapsed in June 2020 after auditors found that €1.9 billion supposedly held in trustee accounts in the Philippines did not exist. The revelation exposed years of fabricated revenue from fictitious Asian…
See the What Happened tab for the full account.
Key facts
- Founded
- 1999
- Closed
- 2020
- Headquarters
- Aschheim, Germany
- Industry
- Fintech
- Employees
- 5,800
- Revenue
- $2.80B
- Founders
- Markus Braun, Paul Bauer-Schlichtegroll
Related failures
Powa Technologies
2007–2016Fintech · UK
Ran out of funding$180MTally
2015–2024Fintech · USA
Ran out of funding$172MVolt Bank
2017–2022Fintech · Australia
Ran out of funding$154MWonga
2006–2018Fintech · UK
Legal / regulatory$150MLendUp
2012–2022Fintech · USA
Legal / regulatory$115MDash
2018–2023Fintech · Nigeria
Ran out of funding$86M
Often compared with: Adyen, Stripe, Worldpay.