How SimpleClosure helped a founder shut down so they could build their next venture
Customer Story
$8M
Raised
2018
Incorporated
Fintech
Industry
2018
Incorporated
$8M
Raised
Fintech
Industry
Meet Lance
Lance reimagined banking for the self-employed, developing a platform that transformed traditional checking and savings accounts. By building intelligent financial stacks, Lance effectively managed the complexities of money movement for freelancers and self-employed professionals, offering a more tailored and intuitive banking experience.
“Having gone through this process before, I was apprehensive and braced for a difficult experience. When the team informed me that everything was completed, I was in disbelief. I expected a far more challenging ordeal, but I was genuinely surprised by how smoothly it all went.”
Gilad Uziely, Lance Global Inc.
The Challenge
After attempting to revolutionize banking for freelancers, Lance's founder found himself in the difficult position of closing the company. Like many startups, Lance was met with financial constraints that led to its eventual dissolution. Faced with the reality that the dissolution process was both intricate and costly, particularly with legal fees threatening to deplete the remaining funds, the founder recognized the need for a specialized solution. SimpleClosure stepped in, allowing the founder to offload the complex shutdown tasks to experts, preserving capital, and freeing up time to focus on new opportunities and fundraising efforts for his next company.
The Solution
SimpleClosure stepped in to manage the intricate and time-consuming aspects of Lance’s dissolution. From pulling Lance out of state registrations to ensuring compliance with legal and tax obligations, SimpleClosure provided a streamlined solution. By offering end-to-end support, the platform took care of all the operational and legal responsibilities, including filing the necessary documents and managing remaining assets. SimpleClosure’s user-friendly platform allowed the founder to monitor the shutdown process while remaining hands-off, giving him peace of mind as he moved forward with his new venture.
The Outcome
Thanks to SimpleClosure, Lance was able to close its doors smoothly and efficiently, without the founder needing to spend time on the complexities of winding down the company. All legal, financial, and operational matters were handled swiftly, allowing for a clean exit. This meant the founder could move on without any lingering stress or unresolved obligations. Now, his new venture is growing rapidly, having successfully raised a fresh $8M in capital. The lessons learned from Lance have provided clarity, allowing the founders to concentrate fully on building the next chapter.
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