Powa Technologies, an e-commerce startup valued at $2.7 billion just a few months ago, went bankrupt on Friday, CNNMoney.com reported yesterday. London-based Powa had been hailed as the crown jewel of British tech scene. Its CEO Dan Wagner boasted that Powa would become "the biggest tech firm in living memory." Powa created a mobile payment app and point of sale terminals for retailers. Wagner's goal was to create a payment system that would provide a "seamless experience across all purchase channels." In 2013, Powa secured what was then one of the biggest investments ever for a British startup. It raised $175 million in just a year and half, with Boston-based Wellington Management among the leading investors.
