A fintech run by two east London gospel church preachers is to enter liquidation after racking up losses.
Crosspay, which provided cross-border payment solutions for individuals and companies, has been instructed to be wound up by a court order, with Simons Muirhead Burton LLP appointed as liquidator.
The court order followed a petition by creditor GCC Exchange UK, a global money transfer and foreign exchange business.
Crosspay’s most recent accounts, filed in December, show the company had accumulated losses of £2.2m and employed 25 staff.
A notice on Crosspay’s website states that it has stopped onboarding new customers and accepting new transactions from customers for cross border payments.
The firm raised £187k in a…
