Contrary to an email sent in error to customers, Woven Finance, the fintech startup supported by the Coronation Group, is not shutting down.
The company clarified that it has decided to cease payment services in the first quarter of 2024 after assessing market dynamics.
Despite mentioning a transfer of services to Hydrogen, a fintech under the Access Group, Woven Finance denies any such plans.
The fintech holds a Payment Solution Service Providers (PSSP) license since 2022 and will communicate the error to customers while continuing operations until further decisions by shareholders and the board.
Woven Finance is backed by Trium, the venture arm of the Coronation Group.
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