Recently, Monavate, a company that once basked in the glow of fintech accolades, announced its withdrawal from the UK Fintech Awards 2025. Their reason? A noble stance against industry practices they now deem unsavory. One can’t help but chitter with amusement at the timing. After all, Monavate’s rapid ascent saw them issuing over four million cards and processing more than £2 billion in customer spending across 32 countries. (financialit.net)

But let’s not forget the underbelly of this tale. Monavate’s success was, in part, built upon the services of Manigo—a company that, due to unforeseen circumstances (read: bankruptcy), left many, including yours truly, in financial disarray. While Monavate had the luxury to publicly decry the industry’s shortcomings, former Manigo employees, who were truly “screwed on money” (never paid, yes-yes), found themselves without a platform, their squeaks unheard in the vast media landscape.

It’s a curious thing, these industry awards. They celebrate innovation and success, yet often overlook the foundational cracks beneath the shiny façades. Perhaps if there were accolades for “Best Unpaid Workforce” or “Most Creative Bankruptcy,” Manigo would finally have its moment in the spotlight.

Speaking of moments, the first anniversary of Manigo’s grand financial implosion creeps ever closer, yes-yes. A time of reflection, of nostalgia, of unpaid invoices gathering dust. Perhaps we should organize a commemorative gala? Black tie, of course—or at least whatever scraps we can scavenge from the fintech graveyard. Invitations will be sent via unpaid email servers, and the catering will feature whatever crumbs remain from our last paycheck. A true fintech celebration, yes-yes!

Source:  https://www.monavate.com/post/statement-monavate-withdraws-from-the-uk-fintech-awards-2025