Parker, a Y Combinator-backed fintech startup offering corporate credit cards and banking services for e-commerce businesses, has filed for Chapter 7 bankruptcy and shut down. The company had raised over $200 million in total funding and reported $65 million in revenue. Its credit card partner Patriot Bank notified customers of the shutdown this week. A fintech consultant claims failed acquisition talks led to the abrupt closure, leaving small business customers in a difficult position. The company has between $50–$100 million in assets and liabilities, with 100–199 creditors listed in the filing.
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