The founder of London FinTech Guavapay has stepped down as director as the company prepares for a High Court hearing today over a winding-up petition filed by Mastercard, which could force the firm employing more than 500 staff into liquidation.
Orkhan Nasibov, the Azerbaijani entrepreneur who launched Guavapay in 2017, has resigned due to “accumulated stress, fatigue and health-related reasons”, a company spokesperson said. The resignation comes as the FinTech battles financial difficulties triggered by regulatory intervention last September.
Mastercard issued the winding-up petition in Mid-November over unpaid sums owed by Guavapay, according to court filings. The payments giant, described as one of Guavapay’s largest creditors,…