![FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany, July 22, 2020. REUTERS/Michael Dalder/File Photo](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/5CLAIJTVAXVCHYGAF4XGRVUCOE.jpg?smart=true&auth=d7c94b1091fc79acf60d1df5e1c936da51e0a0e6497dc6a323560c9899d56705&width=400&height=225)
Wirecard was once a darling of the burgeoning FinTech secene. Reuters
Wirecard was once a darling of the burgeoning FinTech secene. Reuters
Wirecard to cut more than half its staff as insolvency proceedings begin
The rate the company was burning cash was 'enormous' when the German FinTech filed for insolvency