In the Market-Inside a startup’s struggle in a higher-for-longer world
© Reuters. FILE PHOTO: Walt Disney Studios filming notice is placed at the entrance for a special fan event for the Marvel film"Black Widow" in London, Britain, June 29, 2021. REUTERS/Beresford Hodge/File Photo
Many of Tractiv's challenges are typical of an early-stage company as well as a consequence of risks it took, such as trying to break into a clubby industry outside its area of expertise. Nevertheless, its experience also shows how a momentous shift over the past year to higher interest rates has left startups more vulnerable to external shocks.
"The bar has been raised for what opportunities they're prepared to put money into," said Mark Almeida, a former senior Moody's , started Tractiv at the height of the pandemic in April 2020 with $600,000 from friends, family and his savings. His idea was to build software that could help companies keep track of data as it moved from point to point -- a long-standing problem in financial services.
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