Xendpay Limited (08071223): administration
- Status
- Administration ended
- Administration began
- 2023-11-29
- Administrators
- Edward George Boyle, Kristina Kicks
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2012-05-16
- Location
- London
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Parent or group failure
- Regulatory change or action
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
2.1. + Background information
The Company was incorporated in England and Wales on 16 May 2012 (Company number 08071223) and commenced trading thereafter. From May 2016, the Company traded from RFXL’s leasehold premises at Floor 32, One Canada Square, London E14 5AB. The Company’s registered office was also this address.
As a PSD agent of RFXL, the Company provided FX and international payment services using the Xend platform to over 37,000 customers who were individuals and over 350 corporate customers. The Xend platform held account information for clients of Xendpay and RFXL with pre-set exchange rates which enabled customers to book their own FX transactions. The customers who typically used the Xend platform were smaller customers who otherwise would have been required to book FX transactions directly with RFXL’s dealers.
Administrators' statement of proposals (2024-01-15) · Companies House register