Simon Sköld's fintech company Powrs declares bankruptcy in Sweden

The fintech company Powrs, co-founded by MMA fighter Simon Sköld, has declared bankruptcy two years after its launch. Powrs, which aimed to secure online marketplace transactions, struggled to complete its software development and secure further funding, leading to the bankruptcy filing. Sköld, also known as the husband of author Camilla Läckberg, was the largest shareholder. The company had raised 32 million SEK in external capital and was seeking to expand into Serbia. The bankruptcy proceedings are in their early stages, with efforts focused on finding a buyer for the software.