Fintech
Irish fintech Prepaid Financial Services recorded €18m loss ahead of liquidation
EML, the Australian owner of the business, was forced to book a €154m impairment charge as a result of the business failure
Prepaid Financial Services (PFS), the Irish fintech company which is now in liquidation, ran up losses amounting to nearly €18 million in the year prior to being wound down by its Australian parent.
Newly filed accounts for PFS show the business racked up heavy losses in 2023 due to once-off charges linked to a Central Bank investigation into anti-money laundering deficiencies at the fintech company, which first commenced in 2021.
The accounts show the Meath-based ...
