Get the latest tech news
Fintech Fundid was shut down over interest rates and a strained cap table
To keep going, Fundid “needed to put up a lot more collateral because of the changing environment,” Stefanie Sample said.
She started Fundid to offer lending via a business-building credit card as well as finance resources like a grant-matching tool, marketed mainly to women business owners. Far fewer female founded companies are backed annually (less than 1,000 in 2023, compared to tens of thousands for males) and the deal amounts and valuations are lower, too, the Pitchbook research shows. “My existing investors are fantastic, this is a reflection of seeking new investment in a market that decided fintech, lending and cards were no longer desirable,” she wrote in her postmortem.
Or read this on TechCrunch
