Get the latest tech news
Failed fintech startup Bench racked up over $65 million in debt, documents reveal
Canadian Fintech Bench had over $65 million in debt but less than $3 million in cash, documents reveal.
Bench, the accounting startup that imploded over the holidays, filed for bankruptcy in Canada on January 7 revealing massive debts, documents seen by TechCrunch show. Bench owes tens of thousands of dollars in severance pay to former executives too: CEO Jean-Philippe Durrios, CRO Todd Daum, and CFO Mor Lakritz are all listed in the filings. Finally, the bankruptcy filings show Bench owes $4 million in unpaid rent to Canadian real estate agency Morguard, most likely for its office.
Or read this on TechCrunch