CaaStle, a startup that introduced in 2011 as a plus-sized clothes subscription carrier and in 2018 turned into a list monetization platform for clothes outlets, is going through monetary difficulties, studies Axios.
The corporate is nearly out of cash, CEO Christine Hunsicker has resigned, and regulation enforcement is investigating alleged monetary misconduct, Axios reported, mentioning a leaked letter from the board.
CaaStle didn’t straight away reply to a request for remark. Techmim spotted CaaStle’s task board says it lately has no open roles, steadily a destructive signal for a startup.
The startup raised greater than $530 million general, despite the fact that it remaining raised $43 million in 2019, PitchBook estimates. Whilst this generally is a extra concerned explosion than maximum startups ever bear, mavens advised Techmim that 2025 is on target to be some other brutal yr for failed startups.
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