In April of this year, the press announced that TrustBills, in which the two largest German banks, Deutsche Bank and DZ BANK, were also involved, had to file for bankruptcy, even though the reason for this was not in the operating business.
Following a buyout, the founding shareholder, FinTech Studio GmbH (formerly Maravon GmbH), is again the sole shareholder of TrustBills for the time being. In legal terms, TrustBills is now called TrustBills Technologies GmbH. The management of TrustBills remains the same.
During proceedings, operations continued undisturbed by the non-insolvent subsidiary TrustBills Marketplace GmbH. All customers who had previously worked actively with TrustBills remained on board.
TrustBills used the time of restructuring. TrustBills will be even easier, faster and better for its customers in the future, but as secure as ever. The on-boarding process for marketplace participants is now bank-independent and has been significantly streamlined and accelerated by new partners: from two weeks to 30 to 60 minutes.
TrustBills will announce further partnerships in the coming weeks and months.