Daily fantasy sports operator FantasyUp has gone belly-up, leaving an unknown number of customers high and dry.
Concerns about FantasyUp’s stability had been voiced as early as last summer and the matter came to a head this week. Customers were sent emails saying the site “no longer has the capital to fund even minimal operations,” let alone “the funds needed to process the withdrawals to all customers.”
The email, which was signed by ‘The FantasyUp Team,’ said the site’s owners and investors “continued to fund the business while waiting for the financing deal” i.e. the mysterious collaboration with a “national-wide brand” the site had cited last July as somehow being the cause of its inability to access customer funds to process withdrawals.
FantasyUp now says the financing deal was “delayed for investor personal issues” leading the site’s owners to conclude that they had “no choice but to shut down the business and dissolve.” The email said the company had legally dissolved as of Thursday (14).