CaaStle, a startup that launched in 2011 as a plus-sized clothes subscription service and in 2018 grew to become a listing monetization platform for clothes retailers, is dealing with monetary difficulties, reviews Axios.
The corporate is nearly out of cash, CEO Christine Hunsicker has resigned, and legislation enforcement is investigating alleged monetary misconduct, Axios reported, citing a leaked letter from the board.
CaaStle didn’t instantly reply to a request for remark. TechCrunch observed CaaStle’s job board says it presently has no open roles, usually a detrimental signal for a startup.
The startup raised greater than $530 million complete, although it final raised $43 million in 2019, PitchBook estimates. Whereas this could possibly be a extra concerned explosion than most startups ever endure, specialists advised TechCrunch that 2025 is on observe to be one other brutal 12 months for failed startups.
