bankruptcies

Bench burned through $135 million before shutting down

Startups /

A clearer picture of Bench’s downfall is emerging thanks to newly-released bankruptcy filings. The records show that the Canada-based startup, which ironically enough offered cloud accounting software for small businesses, consistently struggled to reach profitability. It burned through $135 million from its founding in 2012 to September 2024. By the time of its collapse, Bench […]

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Failed fintech startup Bench racked up over $65 million in debt, documents reveal

Startups /

Bench, the accounting startup that imploded over the holidays, filed for bankruptcy in Canada on January 7 revealing massive debts, documents seen by TechCrunch show.  The filings — one for Bench and another for 10Sheet, Bench’s original name — show that Bench had $2.8 million in cash on hand by the end of its life

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