Opus comments on collapse of FinTech unicorn, Powa Technologies
February 24, 2016
Business Risk Adviser, Nick Hood comments for City AM on the failure of one of the UK’s FinTech ‘unicorns’, Powa Technologies.
“The situation seems to be the rate of cash burn has just outstripped investor willingness to replace it,” said Nick Hood, business risk analyst at Opus Business Services. “Although frankly there is no relevant financial information in the public domain at the moment, stakeholders are stumbling around in the dark until Deloitte make an announcement.”