Braid Layoffs
October 2023
Braid announced a layoff affecting 0 employees (100% of its workforce) in October 2023. The company operates in the Finance sector.
0
100%
Oct 9, 2023
About
In October 2023, fintech startup Braid, a San Francisco-based consumer payments company, announced it had shut down in September. The company, which had raised $10 million from investors like Index Ventures and Accel, aimed to popularize shared wallets for group savings and spending. Founder Amanda Peyton cited the business model's lack of viability as the primary reason, compounded by a critical loss of its sponsor bank in mid-2022 that left the company inoperable for months. While the exact number of employees laid off wasn't specified, the closure resulted in the entire team being let go as the four-year-old venture wound down operations.
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