Daylight, an LGBTQ+ banking platform, is shutting down. Its operations will cease on June 30, according to embattled co-founder and CEO Rob Curtis.
The announcement comes months after NY Magazine published an explosive feature on the neobank. The article honed in on Daylight, whose seed and Series A fundraises TechCrunch had covered here and here, respectively. NY Mag’s piece detailed a lawsuit brought on by three former employees as well as alleged fabrications and inappropriate behavior on the part of Curtis.
In a blog published today, Curtis said he felt like “now is the right time to exit this market” and told customers that their “money is safe and will be fully accessible for transfer through 30 June.”
He added: “Daylight had a great run paving the way for US LGBTQ+ customers — we opened thousands of trans-inclusive debit accounts, supported thousands of prospective LGBTQ+ parents’ plans for their families. Ultimately, though, we couldn’t provide these services in a way that covered our costs — this is likely a job for big banks and I hope they pick up the torch and carry forward our legacy.”
Founded in 2020, Daylight raised a total of $20 million in funding. Anthemis Group led its $15 million Series A in 2022. Other backers include Kapor Capital, Precursor Capital, Cloc …
