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Corporate credit card startup\u00a0Parker<\/a>\u00a0has apparently shut down after declaring bankruptcy.<\/p>\n The company filed for Chapter 7 bankruptcy protection last week following a derailed $90 million acquisition deal, according to a social media\u00a0post<\/a>\u00a0from founder\u00a0Yacine Sibous<\/a>.<\/p>\n The move comes a little more than three years after Parker\u00a0came out of stealth<\/a>\u00a0and seven years after the company\u2019s graduation from Y Combinator\u2019s (YC) winter 2019 cohort.<\/p>\n While no official closure announcement has come from the company, Sibous posted what appeared to be a eulogy for Parker on X last weekend.<\/p>\n \u201cWe went from an idea in YC to processing over $1B in annualized volume, pioneered products that became standard across fintech, and built something I believed could last for decades,\u201d he wrote. \u201cAnd now it\u2019s over.\u201d<\/p>\n He added while he expects \u201cspeculation about why Parker failed,\u201d much of what\u2019s being said online is inaccurate. In the past few years, Sibous wrote, the company has faced turnover in its leadership, a tougher market, slowing growth \u201cand the realities of trying to scale a venture-backed business after momentum fades.\u201d<\/p>\n \u201cEarlier this year, we decided the best path forward was to pursue a sale of the business. We ran a process and spent months working toward a potential acquisition that ultimately did not close,\u201d he added. \u201cAfter that, things moved quickly.\u201d<\/p>\n A\u00a0report<\/a>\u00a0by TechCrunch points to multiple social media posts saying that Parker\u2019s credit card partner\u00a0Patriot Bank<\/a>\u00a0sent a message to customers confirming the shutdown.<\/p>\n Parker emerged from stealth in 2023, touting a corporate credit card that it said was designed for use by\u00a0eCommerce<\/a> companies.<\/p>\n \u201cWe want to become the de facto card for profitable eCommerce brands looking to scale,\u201d Sibous said at the time.<\/p>\n Parker\u2019s website was still up and running as of Thursday afternoon and made no mention of a shutdown. Rather, a banner at the top of the homepage links to an announcement from September of 2025, when Parker\u00a0received $125 million<\/a>\u00a0in funding, bringing its total financing to more than $200 million.<\/p>\n