- Braid, a San Francisco-based consumer payments start-up founded in 2018, has shut down as of September 2023.
- Braid shuts down operations due to various reasons.
- The start-up raised nearly $10 million in funding and processed over $10 million in monthly payments by Q4 2022.
- Co-founder Amanda Peyton attributes the closure to macroeconomic conditions and a critical third-party decision.
- A key technical change forced them to choose between rebuilding from scratch or shutting down.
- They decided to cease operations and auctioned off Braid’s intellectual property (IP).
- Despite the challenges, Peyton remains optimistic about the opportunity to build innovative financial software.
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