Fintech startup Parker files for bankruptcy

Parker, a well-funded startup offering corporate credit cards and banking services for e-commerce businesses, has filed for bankruptcy and is widely reported to have shut down.

The startup was part of Y Combinator’s winter 2019 cohort, and its Series A was led by Valar Ventures.

Parker came out of stealth in 2023, touting a corporate credit that it said was designed for use by e-commerce companies. At the time, co-founder and CEO Yacine Sibous said the startup’s “secret sauce” was an underwriting process that could properly assess e-commerce cash flows.

“We imagined building better financial products for e-commerce founders with the mission of increasing the number of financially independent people,” Sibous told TechCrunch.

Parker’s website is still up and doesn’t mention any shutdown. Instead, a banner at the top boasts that the company has raised more than $200 million in total funding, including a $125 million lending arrangement.

However,...

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