1. A Lender To Start-Ups Is Struggling.
- Author
-
HOLMAN, JORDYN and Griffith, Erin
- Subjects
- *
NEW business enterprises , *MONEYLENDERS , *MORTGAGE fraud , *VENTURE capital companies - Abstract
The article reports on the financial struggle of Ampla, a lender to startups and backed by venture capital firms. It attributes the troubles of Ampla to direct-to-consumer businesses that are no longer growing, failure to raise more capital and a breach of a condition of its borrowing. A background is provided on the founding of Ampla and the loan arrangements it made with financial firms including Goldman Sachs, Atalaya Capital Management, and Citigroup.
- Published
- 2024