According to Nuri, the firm has worked “very closely” with its insolvency administrators on a restructuring plan since then, trying to find a potential acquirer.
“Unfortunately, we have not been able to find investors to continue our mission and have asked our customers to withdraw their funds by 18/12/2022 the latest, so the business can be terminated and liquidated,” CEO Kristina Walcker-Mayer wrote in a blog post on Tuesday.
Nuri is closing down its business operations. We ask our customers to withdraw their funds and assets as of 18.12.2022. Thank you for having been part of the Nuri community! 💜
Some perks offered by the company included saving plans via recurring Bitcoin purchases, as well as Nuri Pots—a collection of different exchange-traded funds (ETFs) and other investment products.
Nuri expanded its Series B funding round to $23.5 million (€24 million) in June 2021, reporting more than 250,000 customers in 32 countries at the time.
“Nuri looked beyond old boundaries, leveraging new technologies, including blockchain and decentralized finance to open up a wide range of possibilities for anyone to manage and grow their money,” said Walcker-Maye.
While regretting that Nuri wasn’t able to continue writing its story, Walcker-Maye said she still believes “in the endless possibilities of blockchain-based finance” that will “add true value to the lives of people.”
The harsh reality, however, is that as many as 215 Nuri employees—according to the company’s LinkedIn profile—are now set to lose their jobs.
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