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- Bench’s sudden exit
Bench’s sudden exit
leaving businesses stranded
Welcome to Fintech Wire — your quick guide to what’s shaping finance and tech today.
What we’ll cover today:
💼 Bench’s shutdown chaos and what it means for businesses
📈 The biotech stocks poised to break out in 2025
🤝 Payroll platforms betting big on earned wage access trends
Bench, a popular online accounting platform, has unexpectedly shut down, leaving thousands of businesses stranded without access to financial records.
🚨 Breaking News:
Bench's sudden closure has blindsided businesses, cutting off access to essential tax and accounting documents just before year-end deadlines.
⚡ Wire Simplified:
Bench offered online accounting services for small businesses.
The company abruptly shut down, impacting thousands of users.
Businesses lost access to financial records, sparking panic.
No clear explanation from Bench on the closure yet.
Accountants are scrambling to help affected businesses recover documents.
✔️ Straight to the Point:
Bench's closure is a harsh reminder to always back up important financial data elsewhere. Will this push businesses towards more reliable solutions?
🎤 Did you expect an online accounting giant like Bench to go under this suddenly? |
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Payroll platforms are stepping up! Major players are expanding into earned wage access (EWA) through acquisitions and new developments.
🚨 Breaking News:
Payroll providers are betting big on earned wage access, giving employees early access to wages via acquisitions and tech upgrades.
⚡ Wire Simplified:
Earned wage access lets employees get paid before payday.
Payroll platforms are investing heavily in this trend.
New acquisitions aim to integrate EWA features seamlessly.
Companies hope to attract more businesses with these solutions.
✔️ Straight to the Point:
Earned wage access is reshaping payroll, but will it solve financial struggles or just add more complexities for employees?
🎤 Would you use earned wage access if offered? |
1/8 I’m very sad today to see that @Bench has shut down.
I’ve avoided speaking publicly about Bench since just over 3 years ago when I was fired from the company I co-founded. I still don’t have a lot of appetite to talk about it tbh, but think at least a short statement is appropriate.
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🧵 Read this thread for the full Bench Story from it’s Co-founder Ian
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8/8 I hope the story of Bench goes on to become a warning for VCs that think they can “upgrade” a company by replacing the founder. It never works.
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Date: November 11–13, 2025 | Location: London, UK
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Nordic FinTech Week 2025
This event connects the Nordic FinTech community, exploring themes such as financial inclusion, digital banking, and AI in finance.
Date: September 2025 (exact dates TBD) | Location: Copenhagen, Denmark
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FinTech South 2025
A U.S. Southeast-focused event discussing innovations in payments, banking, and financial services technology.
Date: May 2025 (exact dates TBD) | Location: Atlanta, GA, USA
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