Finablr raises doubts about its future, CEO leaves - Reuters

Finablr raises doubts about its future, CEO leaves - Reuters:

Payments group Finablr (FINF.L) on Monday expressed doubts about its ability to continue as a going concern and said its chief executive would step down.

Finablr was founded by BR Shetty, who also founded troubled UAE hospital operator NMC Health (NMC.L), which earlier this month asked for an informal debt standstill to stabilize its finances.

Finablr’s troubles have followed problems at its Travelex business, which was hit by a ransomware attack late last year. The company is also facing disruption to its business from the coronavirus crisis.

“(Constraints) now reached a point where they are having a material adverse impact on the company’s operations, including resulting in the company no longer being able to provide certain payment processing services,” Finablr said.