Viola Money (Europe) Ltd (09703795): administration
- Status
- In administration
- Administration began
- 2021-12-21
- Administrators
- Robert Thomas Spence, Kristina Kicks
- Administrators' firm
- Interpath Advisory
- Formerly
- V-Wallet (Europe) Limited
- Incorporated
- 2015-07-27
- Location
- London
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Regulatory change or action
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated as V-Wallet (Europe) Limited on 27 July 2015 and changed its name to Viola Money (Europe) Limited on 14 May 2019. The Company was authorised as an electronic money institution by the FCA in November 2018. This authorisation meant the Company had permission to issue electronic money and provide payment services.
The Company had two main products:
• Viola Black — targeting individuals with the provision of an e-money current account and prepaid debit card. We understand the Company determined this product was not profitable and it has been closed to new customers since around October 2020.
Administrators' statement of proposals (2022-02-15) · Companies House register