Fintech startup Level abruptly shuts down after burning through $27 million of investors’ cash - Tech Startups

Fintech startup Level abruptly shuts down after burning through $27 million of investors’ cash - Tech Startups

Level, a benefits startup focused on providing flexible employee benefits, abruptly shut down on Thursday. The company informed its clients that efforts to sell the business had failed, forcing the closure and leaving customers in a difficult spot, according to […] The post Fintech startup Level abruptly shuts down after burning through $27 million of investors’ cash first appeared on Tech Startups.

Report: Benefits Startup Level Shuts Down After Acquisition Falls Through

Level, a New York-based benefits startup founded in 2018, has shut down, saying it has kept a small team to assist customers. The company shut down abruptly after the collapse of an effort to find a buyer, The Information reported Thursday (Jan. 2), citing an email from Level CEO Paul Aaron to customers. “Unfortunately, the deal fell through at the last minute due to external challenges beyond our control,” the email said, per the report. Accord…

Email: NYC-based Level, which raised a $27M Series A in 2021 to help companies offer staff benefits, shuts down after an effort to sell the company fell through

The essential tech news of the moment. Technology's news site of record. Not for dummies.