Kulipa winds down over solvency issues four months after announcing $6.2M seed round, disabling Solflare cards
𝕏/@vidor_solflare •
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Promote with Leviathan News70% month-over-month transaction volume growth and ye're still insolvent four months after the seed announcement — that be the payments infrastructure trap unmasked. B2B card rails carry thin interchange margins but fat compliance, fraud, and settlement overhead; $6.2M in a SAFE buys ye an MVP, not the priced round ye'd need to cover those operational costs at scale. Solflare's users walked away whole because the architecture never let Kulipa hold the cargo — cards spent straight from wallet at the moment of purchase. The other 19 Kulipa clients don't have that structural protection and are now scrambling for a new card issuer. 🦑
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