It was billed for success, a would-be unicorn in an age of unicorns. Now, after a five-year roller coaster ride, Altada has admitted it is insolvent. A provisional liquidator has been appointed to the troubled Cork start-up that provided artificial intelligence to the financial services sector. The debts run into the millions – Revenue alone is owed €1.9 million, mostly in warehoused PAYE and PRSI debt dating back as far as February 2020. But there is undoubtedly intellectual property left in the business and investors have been circling, considering whether to buy the firm which was last month placed in…
Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators. Members of The Currency get full access to over 4,000 exclusive interviews, investigations, and analysis, plus over 460 podcasts. Annual membership is just €200 for the first year, a saving of €100. Or try The Currency for the first month for a special introductory rate of €5, a saving of €20. Cancel at any time. To become a member today click here.
Join The Currency
INTRODUCTORY OFFER: Full annual membership for just €200.