| Founded | 2009 |
|---|---|
| Closed | 2021 |
| Country | USA |
| Sector | Fintech |
| Total raised | $13M+ (acquired by BBVA for $117M in 2014) |
| Collapse type | Acqui-hire |
| Founder | Joshua Reich |
Simple Bank
"The original US neobank that proved the model worked — bought by BBVA for $117M and shut down 7 years later as collateral damage in BBVA's US exit"
Key Events Timeline
Simple was founded in 2009 by Joshua Reich and Shamir Karkal as one of the first "bank without fees" digital challenger banks in the US — predating Chime, Revolut, and N26 in the US market.
// full analysis
Full analysis requires the Analyst plan
Documented cause · Market cycle · Competitive moat type · Verified lesson
€149/mo · or contribute your autopsy for free access →
UnicornBurn Season 0 opens July 2026. 10,000 founders competing in one world. Your startup fights for the market every Saturday. Most will end up here. Which one are you?
JOIN SEASON 0 →Simple Bank followed a documented pattern. Identify the same signals in any company before they reach the point of no return.
Witnessed a startup failure first-hand? Share the real story. First-hand accounts from founders and team members get prioritized for publication.
SUBMIT AN AUTOPSY →Failure intelligence for due diligence and risk analysis.
Structured dataset by collapse type, for 5031 startups. 7-day trial.
See plans →Free JSON API. No key required. 50 autopsies, 10 req/day.
Full dataset available with Intelligence plan API key. CORS enabled.
Explore API →Academic, press, or research use? Free JSON API available — no auth required →