July 20, 2024

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Dock Financial is Insolvent: Buyer Wanted for Technology

Dock Financial is Insolvent: Buyer Wanted for Technology

The FinTech company around Marco Wenthen (CEO of Dock Financial) is insolvent. The former Solaris CCO only acquired FinTech Paydora (here) last October – and now the promising Munich FinTech company has been forced to file for bankruptcy – due to a funding round that did not materialize. Fintech Dock is up for sale.

Drock Financial (Munich) filed for insolvency proceedings, which was subsequently ordered by the Munich District Court on 22 May 2024. The insolvency administrator is lawyer Ivo-Meinert Willrodt from Pluta Rechtsanwalts GmbH (website). The goal is renewal. Business operations with approximately 100 employees are currently maintained. However, layoffs have already taken place (“staff adjustments”).

We are currently intensively studying whether we can find a buyer for the startup's technology.

Dock Financial CEO Marco Wenthen
The bankruptcy of Dock Financial is certainly a huge blow to Marco Wenthen (CEO).Financial dock

Doc Financial (website) works almost the same as Solaris (formerly SolarisBank) – which is not surprising: after all, Marco Wenthen (CEO) is the former COO of Solaris. The startup, founded in 2021, offers its clients so-called “embedded financing” solutions. An area said to have high growth potential and future opportunities.

Dock Financial's services include: payment account, card, and payment systems via an API or front-end solution. They can use this to digitize financial processes and simplify their processing. The FinTech solution allows customers to create physical or virtual payment cards in real time. All systems can be integrated via API or used as a ready-to-use plug-and-play solution, depending on the individual use case. This technology appears to be on sale now.

Clients include companies in finance, insurance, mobility, logistics and travel.

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The insolvency applications only apply to the two German companies. Dock Financial GmbH develops the technology and the Luxembourg-based company is responsible for customer relations. Dock Financial SA in Luxembourg is also responsible for payment accounts and cards. This means: All customers have a contractual relationship with it in relation to regulated services. All end-customers who have questions about their accounts are therefore requested to contact the company in Luxembourg.a J