Monese has borrowed money from card company Pockit as it scrambles for fresh sources of funding after shareholder HSBC wrote off the value of its investment.
The London fintech entered into a debt agreement in September, fresh company filings show, with Pockit acting as the lender.
The size and terms of the deal were not disclosed. Monese and Pockit did not respond to requests for comment. Pockit had reportedly been in advanced talks to acquire Monese’s consumer division for a nominal fee.
Monese, which counts PayPal, HSBC and British Airways owner IAG among its major shareholders, warned earlier this year that there was “material uncertainty on the success of raising future fundraising” which undermined the “going concern” status of the business....