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. 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, multiple social media posts state that Parker's credit card partner Patriot Bank sent a message to customers this week confirming the shutdown. Parker's competitors seemed to jump on the news with their own posts seeking to lure over the startup's former customers. And Parker's troubles seem to be confirmed in its May 7 filing for Chapter 7 bankruptcy protection. The filing states that the company has between $50 million and $100 million in assets, with liabilities in the same range. It...
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