Factoring services provider Jitpay is restructuring, with the aim of being acquired by its largest shareholder, Volksbank Brawo. This restructuring involves the bankruptcy of three Jitpay companies in Braunschweig: Jitpay GmbH, Jitpay Services GmbH and Jitpay Group Services GmbH. Although this measure has raised concerns in the industry, Jitpay assures that its operational business will not be affected, as Jitpay Financial GmbH, in charge of billing services, will continue unchanged.
The bankruptcy of the three Jitpay companies is seen as a preliminary step to facilitate the full takeover by Volksbank Brawo, now the largest shareholder with a 50 percent stake. This move is expected to allow Jitpay to focus on billing and factoring services while maintaining staff continuity. In addition, the orderly closure of some domestic Jitpay companies is announced as part of the liquidation process, as Volksbank Brawo has decided to centralize all services through Jitpay Financial GmbH, directly from Germany.
Jitpay has informed its customers and strategic partners about these changes through a circular, ensuring that the company remains financially sound and that the restructuring will not affect its business operations. This transition to a more focused structure at Jitpay Financial GmbH seeks to ensure business efficiency and continuity under the new ownership of Volksbank Brawo, while orderly closing some non-core operations in preparation for full integration.
After a period of dedication and commitment to my work at JITpay Services GmbH, I find myself in a strange situation because the company has entered into an insolvency process that will culminate in its bankruptcy. I would like to emphasize that this situation was not generated by a lack of knowledge, performance or experience on my part, both in daily work and in the assignment of projects. Rather, it has arisen due to decisions made by the members of the company’s board of directors, who chose not to continue investing in business. Therefore, I am looking for new job opportunities where I can continue to contribute with my skills and experience. I invite you to verify this information through an official company report that you can find at this link.