Nuri
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Nuri, previously Bitwala, offered banking and cryptocurrency services to consumers in Germany.
02 / Nuri FAILURE REASONS
Failure reasons
The chief executive cited adverse economic conditions and the insolvency of a major partner. Insolvency proceedings were intended to find a restructuring route, but no new investor or buyer could be secured, so the business chose wind-down.
03 / EVENT HISTORY
Events in the structured record
- Insolvency filing
The company filed in August while seeking a way to continue.
- Wind-down and customer withdrawals
In October management announced wind-down after investor and buyer talks failed, asking customers to withdraw funds by mid-December.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Economic and partner-insolvency pressures
- 02
Entered insolvency proceedings to seek a continuation route
- 03
No investor or buyer secured
- 04
Business wound down with customer withdrawal arrangements