As the class action lawsuits pile up, Wirecard (WDI:DE) is experiencing an exodus of empl0yees. The once prominent Fintech, now insolvent and dealing with allegations of fraud, has experienced a profound destruction in value as shares in Wirecard have effectively collapsed – trading slightly above one Euro.
A report in Reuters indicates that Wirecard’s digital innovation team has exited the firm and joined finleap – a Berlin-based Fintech. finleap is a software provider offering Fintech solutions in the realm of banking, insurance, and more.
Founded in 2014 by IONIQ Group and Ramin Niroumand, finleap has developed 16 ventures with its infrastructure and added others by acquisition to its ecosystem. Companies such as solarisBank, the first banking platform with a full banking license, ELEMENT, a fully digital insurer, PAIR Finance, a provider of data-based receivables management, and others offer solutions to both Fintechs and traditional financial services firms.
According to the report, Joern Leogrande, head of Wirecard’s innovation group, will lead a new team at finleap in Berlin.
As part of bankruptcy proceedings, it is anticipated that more jobs at Wirecard will evaporate as the company is chopped up for parts and sold to others.