<div id="readability-page-1"> <time datetime="2025-12-26T15:08:35+00:00"> Friday 26 December 2025 3:08 pm </time> <figure> <div> </div> <img width="742" height="495" src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2025/12/Mastercard-e1766761661339.jpg/query-dz03NDI?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2025/12/Mastercard-e1766761661339.jpg/query-dz03NDI"/> <figcaption>Guavapay employs more than 500 staff and manages cross-border money transfers</figcaption> </figure> Hundreds of jobs could be at risk as London fintech Guavapay faces a winding up petition from payments giant Mastercard over unpaid sums, City AM can reveal.The firm, which employs more than 500 staff and manages cross-border money transfers for individuals and businesses, was issued the notice on Christmas Eve, according to court filings seen by City AM. A high court hearing is scheduled for 21 January.The legal manoeuvre will force Guavapay into liquidation if it does not reach an agreement over monies owed to Mastercard, one of its biggest creditors.Guavapay and Mastercard did not respond to requests for comment.<h2 id="h-fca-expresses-concerns-over-fraud-prevention">FCA expresses ‘concerns’ over fraud prevention</h2>The winding up petition deals yet another blow to Guavapay after it suspended onboarding new customers and accepting new funds into its MyGuava App and MyGuava Business platform in September following an intervention from the UK’s financial regulator.The London fintech said it was forced to make the move because of “concerns” expressed by the Financial Conduct Authority (FCA) over customer due diligence and fraud prevention measures. Three directors immediately resigned from the firm’s board following the announcement.“The company compliance team along with external consultants are reviewing these matters and are engaged in ongoing dialogue with the FCA,” Guavapay said in a statement.Guavapay insisted that the move was “intended to be a temporary measure” but in November said it “does not have clarity on the potential timing” for removal of the requirement.Guavapay was founded in 2017 by Azerbaijani entrepreneurs and Russian university graduates Elkhan and Orkhan Nasibov, who wholly own the company. To date it has not had any external funding. The pair also own crypto trading business Finbloom.Guavapay posted turnover of £23.4m in 2024, a near-doubling compared to the previous year, according to accounts filed with Companies House. It made a pre-tax profit of just under £2m.Late last year, the company opened a subsidiary in Azerbaijan, which was handed an e-money licence to begin offering services earlier this year. In December, the firm gifted a rug to City of London policy chief Chris Hayward.In March the company appointed fintech veteran Guy Noble as its new chief executive. But Noble quickly left the company after just six months at the helm.In August, Guavapay co-founder Elkhan Nasibov was appointed chair of the skills committee of the London Chamber of Commerce. </div>

Mastercard has issued a winding up petition against London fintech Guavapay over unpaid sums, risking hundreds of jobs. The petition follows FCA concerns over fraud prevention, leading to Guavapay suspending new customer onboarding. A high court hearing is set for January 21. Guavapay, founded by Elkhan and Orkhan Nasibov, posted a £23.4m turnover in 2024 but faces liquidation if no agreement is reached with Mastercard.

- Guavapay, a London fintech with over 500 employees, faces a winding-up petition from Mastercard over unpaid debts, risking hundreds of jobs.  
- The petition follows Guavapay's suspension of onboarding new customers due to concerns raised by the Financial Conduct Authority regarding compliance and fraud prevention.  
- A high court hearing is scheduled for January 21, and Guavapay has reported a significant growth in turnover but has faced operational challenges, including the resignation of three directors.

Mastercard issues winding up petition against London fintech Guavapay