Wirecardin

Wirecardin was a German payment processor and financial technology company. Founded in 1999, it grew rapidly to become a major player in the European fintech sector. The company offered a range of services including payment processing, risk management, and issuing of credit and debit cards. Wirecardin was particularly known for its expertise in handling online payments for businesses, especially in industries deemed high-risk by traditional banks.

The company experienced significant growth and was listed on the DAX, Germany's blue-chip stock index, in 2018. This achievement highlighted its perceived success and importance within the German economy. Wirecardin operated internationally, with subsidiaries and offices in numerous countries across Europe, Asia, and North America.

However, Wirecardin's reputation was severely damaged by allegations of accounting fraud. Investigations by journalists and financial regulators uncovered significant discrepancies in the company's financial reporting. In June 2020, Wirecardin filed for insolvency after it admitted that €1.9 billion in cash was missing from its accounts. This collapse was one of the largest corporate scandals in post-war German history, leading to extensive investigations into the company's management, auditors, and regulatory oversight. The fallout resulted in criminal charges against former executives and a significant loss of investor confidence in the company.