This Verse payment app disappears. As the company itself made public this Thursday, It will cease operations on September 13In a statement, it says it has failed to “set a sustainable path” that allows its customers to “continue to grow while providing the level of service and innovation they expect and deserve.” This company, founded in Barcelona In 2015 and initially a major competitor of Bizum, the company now owns it. founder twitterJack DorseyIt decided to liquidate after paying more than 30 million Euros three years ago.
“The closing of the verse will take place on September 13, that is, on that date, the app will be disabled And will disappear from app stores and devices”, the company details, is starting to move this Thursday so that its customers have zero margin to leave their accounts before that day.
“Your funds will still be protected and a process will be in place if you wish to claim them after Verse has closed, but we strongly recommend that you withdraw your funds using Verse. verse app While you can,” the company website advises, “withdrawals will be significantly slower after the app is closed, and for example fill a form And manually verify identityEspecially since after the deadline it will not be possible to download or access the application. It will not be possible to use the card. Verse Card.
Verse’s trajectory
Verse’s history was turbulent almost from the start. they created borja rossell, Alex Lopera And Dario Nieuwenhuis As their second venture in 2015, but about two years later, the company’s main shareholders (who had invested about $30 million from one round to the next) decided to pull them out of the partnership. company management because it did not reach the promised figures. What was unofficially said at the time was that they initially smelled like bloated.
That’s how it came to be. CEO bernardo hernandezexperienced entrepreneur and investor Google, flickr, tuenti And idealist, who sold the company blocksThe ‘startup’ owned by the co-founder of Twitter.
But the problems did not end there: the company was recently fined 280,000 euros. Bank of Lithuaniafor systematic violations of the requirements prevention of money laundering and financing of terrorismas well as failing to properly enforce customer identification requirements that allow anonymous accounts or to be opened under fictitious names.
This likely exacerbated a situation that would have been complicated by what the company’s only explanation for the shutdown (“not finding a sustainable route”) was suggesting.