A look at the collapse of Stenn, an invoice financing startup that got major banks to unwittingly fund millions in suspect payments and was last valued at $900M
Big banks like Citigroup and Natixis thought they were backing a $1 billion fintech darling. X: @alephblog X: David Merkel / @alephblog : Wall Street banks thought they were backing a $1 billion fintech darling. When Stenn blew up, major partners said they had never even heard of it. https://www.bloomberg.com/... What an incredible scam, and my but those scammed were so credulous.