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Pillow“To buy now, a Fintech start (BNPL), which describes as a later (BNPL)”, was closed.
Thursday, founder and CEO Paul Kesserwani stationed At the end of 2024, the company in LinkedIn on the decision to close the wind.
In the post, Kesserwani said, “Although the market brings many new fintech products Pillow “It did not reach the scale necessary to continue the job.”
In the late 2016, San Francisco-based cushions, upper capital, florist enterprises, Vestigo enterprises, better tomorrow ventures, 500 global investors collected a total of $ 21.6 million.
The growth announced by the last community is when it is closed in May 2022 $ 12 million series a He led the upper capital. According to Pitchbook, in 2022, the post-money assessment amounted to $ 82.4 million.
Kesserwani did not respond immediately to the demand for TechCrunch.
The pillow offered users from bank accounts to the consumer application that sucks in the history of the operation in the history of the operation, and then negotiated them on behalf of them to return. Kesserwani designed He said to TechCrunch In 2019, it was aligned with consumers by taking a commission on cash only returned.
Kesserwani, on Twitter, took an idea for the pillow after leaving his work. While taking a while to think about what he wanted to do next, he helped to manage his parents’ bank accounts while traveling to work in Lebanon. Thanks to the bank’s security policy, his parents could not enter their accounts from Lebanon, and as a result, their accounts were faced with the bank fee for their negligent. As Kesserwani examined, he returned to his accounts and paid the rights of $ 400 melodies because his consent has no memory.
In Linkedın post on Thursday, Kesserwani, the cushion talks were automated and reached $ 3 million in 10 months, and more than $ 300 million, he said. Added that the company with more than 1 million consumers with time, with more than 200,000 paid clients.
Kesserwani wrote: “Everything I live for 8 years was the cushion. We did not hope for the result, and I am proud of. When I come to me, I’m excited for the next thing.”
The information is expected to be 2025 Another wild year for starting closure. Another Fintech – bench in late December – only to avoid suddenly be obtained days later.
