Powa Technologies
FintechUKClosed 2016
Total Raised
$180M
Peak Valuation
$2.70B
Employees
400
Year Collapsed
2016
Business model
Mobile payments and e-commerce technology (PowaTag), licensed to retailers and brands.
In brief
Claimed a self-reported $2.7 billion valuation based on a mobile payments product that let shoppers buy items by scanning a tag, but never disclosed audited financials or independent verification of that valuation. When a rescue financing round fell through, the company collapsed…
See the What Happened tab for the full account.
Key facts
- Founded
- 2007
- Closed
- 2016
- Headquarters
- London, UK
- Industry
- Fintech
- Employees
- 400
- Revenue
- Undisclosed
- Founders
- Dan Wagner
Related failures
Frontend
2021–2024Fintech · UK
Ran out of funding$20MTally
2015–2024Fintech · USA
Ran out of funding$172MVolt Bank
2017–2022Fintech · Australia
Ran out of funding$154MDash
2018–2023Fintech · Nigeria
Ran out of funding$86MXinja
2017–2020Fintech · Australia
Ran out of funding$70MSynapse Financial Technologies
2014–2024Fintech · USA
Ran out of funding$50M
Often compared with: Stripe, Adyen.