Parker, a fintech that focused on SMB banking and credit cards, shut down and filed for Chapter 7 bankruptcy protection.
The company, which was backed by Valar Ventures, Y Combinator and others, offered a credit card, bill pay, and treasury management services to ecommerce-oriented small businesses. The fintech had partnered with Piermont Bank in banking and Patriot Bank with commercial credit cards.
The May 7 bankruptcy filing reports $50 million to $100 million of assets and $50 million to $100 million of liabilities. The filing reports 100 to 200 creditors.