The Delaware Bankruptcy Court proceedings recently took a significant turn with the appointment of a Subchapter V Trustee, who is often appointed if there are allegations of mismanagement or non-compliance.
The move effectively places the Senegalese fintech company in control of all transactions related to the reloading and unloading of online player accounts, starting January 30, 2025.
One of Breadfast’s key investors, VNV Global AB, disclosed that its 8.6% stake in the startup is now valued at $23.1 million, up from an initial investment of $16.9 million in 2021.
Originally designed to support up to 15 startups, including early-stage ventures, i3’s third cohort will now concentrate on a few select companies with proven traction and the potential to scale quickly.
The payments platform attracts Standard Chartered and Sony as it pushes into Latin America and Asia-Pacific, even as regulatory friction persists in some of its core markets.
