wirecard
Wirecard
Founded on January 1, 1999, in Munich, Germany. After running the so-called PG business that intermediates credit card or electronic payments like Apple Pay and PayPal in stores, online, and mobile, Markus Braun, a former KPMG consultant, took over as head of Wirecard in 2002, and as the company signed contracts with many famous companies such as FedEx and IKEA, its size began to grow.
In 2007, it established a Singapore branch and expanded its market to Asia, and in 2017 it also entered the U.S. market, and in 2018 its market capitalization surpassed that of Deutsche Bank, Germany's largest bank.
It is said that the then-COO Jan Marsalek fled to Russia with 1.9 billion euros of the company's reserves. According to a WSJ report from December 2023, Jan Marsalek had been acting as a spy for Russia.
It was an IT company and a fintech company that was rare in Germany, which had grown through manufacturing, and at one time it was also included in Germany's
DAX index, but became the first Bankrupt Companies among the DAX constituent stocks.
Topics: Bankrupt Companies,Germany
Category: Wiki/Economy