TechCrunch
The prospects for troubled banking-as-a-service (BaaS) startup Synapse went from bad to worse last week when a U.S. Trustee filed an emergency motion asking to convert the company’s debt reorganization Chapter 11 bankruptcy into a liquidation Chapter 7 due to “gross mismanagement” of its estate. There seems to be a real appetite for an alternative to QuickBooks, the legacy accounting alternative for SMBs, judging by the attention this story on Layer’s $2.3 million raise received. Its customers are those working with small and medium-sized businesses to offer accounting and bookkeeping features inside their own products.