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Failed fintech Stenn took millions from Serbian groups aping blue-chips

Empty road in rural landscape, Qinghai province, Tsekhog, China
Photo: Eric Lafforgue/Art In All Of Us/Corbis via Getty Images

Documents show HSBC uncovered ‘extensive and systemic’ invoice issues at UK start-up.

10 February, 2025 by Robert Smith in London

HSBC pushed UK fintech Stenn into administration last year after discovering that it had received hundreds of millions of dollars from a web of linked companies in countries such as Serbia, whose names often appeared to ape those of large, well-known businesses.