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Solid (formerly Wise) files for bankruptcy
Banking-as-a-service startup Solid (formerly called Wise) has filed for Chapter 11 bankruptcy protection, according to documents filed in the United
Palo Alto-based Solid worked with fintech and vertical SaaS companies and offered banking, payments, cards and cryptocurrency products via easy-to-integrate APIs. Last April, Synapse famously filed for Chapter 11, hoping to sell its assets in a $9.7 million fire sale to another fintech, TabaPay. According to Mikula, Solid’s 20 largest unsecured creditors include Amazon (AWS), regulatory consulting shop FS Vector, Visa, Plaid, Trulioo, Spade and a number of law firms.
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