# Monneo Ltd (10086951)

> Why UK company 10086951 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/10086951

- **Status:** In administration
- **Administration began:** 2023-05-30
- **Administrators:** Paul David Allen, David Paul Hudson, Daniel Conway
- **Administrators' firm:** FRP Advisory
- **Formerly:** E-Pay International Ltd
- **Incorporated:** 2016-03-29
- **Location:** London
- **Industry:** 64999 Financial intermediation not elsewhere classified

## Why it went into administration

- Regulatory change or action
- Cash flow / liquidity pressure
- Management failings / irregularities

## From the administrators' statement

The Company is an API which was incorporated on 29 March 2016 as E-Pay International Limited but changed its name to Monneo Ltd on 10 February 2021. It traded under the names “Monneo” and “Izzio”.

The Company started as a specialist money transfer business to meet a need from its customers in the e-commerce space for more efficient means of remitting and disbursing funds received from multiple sources. It was initially registered with the Authority as a SPI on 3 January 2017. However, the business model evolved when full authorisation was first granted by the Authority in 2018 and in 2019 the Company was granted a VOP to add the regulated activity of executing payment transactions to its activities.

The Company provided payment solutions to corporate customers in the e-commerce sector through a dedicated ‘banking’ platform and related services comprising:

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/10086951/filing-history/MzM4NzE1OTgzNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/10086951

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.