In a post on LinkedIn, CEO Paul Kesserwani says the decision to wind down the firm was made at the end of last year after it failed to “reach the scale needed to sustain the business”.
Founded in 2016, Cushion used people’s transaction history for an automated bank and credit card fee negotiation service that it says helped secure $15 million in refunds.
In 2022, it raised $12 million in Series A funding for a move into bill payment, while it also launched a ‘Plaid for BNPL’, processing over $300 million in loans.
On LinkedIn, Kesserwani says the firm onboarded over a million consumers, with more than 200,000 paying customers.
