- Company Closure: Received, a New York-based billing and accounts receivable platform, is shutting down. The decision was made by the company’s co-founder and CEO, Roi Ben Daniel, due to not being on the right growth trajectory.
- Announcement: The closure was announced by Roi in a LinkedIn post, where he expressed regret and explained that the company will be unwinding after two years of operation.
- Company Background:
- Founders: Received was founded in 2022 by Roi Ben Daniel and CTO Sai Betito.
- Services: The company provided automated invoicing, pricing models, contracts, and partner management solutions tailored for the B2B market.
- Team: The firm had a small team of 10 employees.
- Partnerships: Received collaborated with major technology partners including Salesforce, Stripe, and Xero.
- Reason for Closure: Roi mentioned that despite their efforts, they were unable to build the right product for the right customer at the right time, leading to the decision to close the company.
- Industry Trend: The closure of Received is part of a broader trend of fintech closures this year, which also includes companies like UK-based Twig and Paysme, and San Francisco’s Tally.
- Future Plans: Roi Ben Daniel plans to take a break over the summer and will explore new opportunities in the fintech sector afterward.
