Re:Simple Bank Is Closing
by tadfisher on Thursday January 07, 2021 @08:11PM
(#25680083)
In our case, Simple was at the end of its runway and desperately needed a buyer after our primary angel backed out. BBVA was there at literally the last second (as in, we may not have been able to make the next payroll). So yeah, it wasn't really about the founders wanting to cash out; they desperately wanted to keep the idea going.
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Have the founders tried to find a buyer for Simple to pull it out of BBVA and save it from being shut down?
That was floated as an option, but it would complicate/delay BBVA's merger with PNC. Their entire whitelabel tech stack (Open Platform) is being shut down.
Backed out.. as in, Bancorp dumped you? I had the completely wrong idea about that, then.