Funded Engineer Shut Down
Funded Engineer has announced its permanent closure following unsuccessful attempts at strategic restructuring and cost-cutting measures. Despite efforts to secure additional investments, the company will now file for bankruptcy.
Background
Earlier this year, Funded Engineer encountered significant challenges when its tech supplier, FPFX, terminated the license over an alleged fraud scheme. This termination compromised funded accounts and led to the company’s suspension by the prop firm comparison site Propfirmmatch. These events marked the beginning of severe financial difficulties for the firm.
Funded Engineer’s management stated that they had explored every possible avenue to stabilize the company’s financial standing, including strategic restructuring, cost-cutting measures, and seeking additional investment. Unfortunately, these efforts did not yield the necessary results to ensure the continuation of the business.
As part of the closure process, Funded Engineer will be filing for bankruptcy. The company expressed deep regret for the impact this decision will have on its clients, partners, and employees and committed to managing the process as smoothly as possible with the assistance of legal and financial advisors.
