In business, having a great product does not always guarantee success, even in fintech. Cushion, the AI-powered fintech startup that negotiated bank fees on behalf of consumers, announced its shutdown in January 2025 despite raising $21.6 million and reaching an $82.4 million valuation.
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The high-profile closure serves as a cautionary tale for fintech entrepreneurs, emphasizing the often-overlooked role of strategic public relations. Spynn, a PR firm specializing in securing top-tier media placements, offers insights into how targeted communication strategies might have changed Cushion’s course.

PR Strategies for Business Model Transitions

Cushion’s 2022 pivot from fee negotiation to bill payments marked a critical turning point. The company secured $12 million in Series A funding for this transition but struggled to communicate its new direction effectively. Instead of positioning the pivot as an evolution of its financial advocacy mission, the shift created confusion. A well-crafted PR strategy could have clarified the transition as a strategic expansion rather than a deviation.

Effective PR during business model shifts requires more than a press release. It demands a unified narrative across media channels that reassures existing customers while attracting new ones. Spynn’s approach might have included securing an exclusive Business Insider feature explaining Cushion’s vision, followed by a series of founder interviews across finance-focused podcasts to articulate the rationale behind the shift. This level of strategic storytelling could have preserved market confidence and reinforced Cushion’s value proposition.

“The most successful fintech companies build transparent communication channels with stakeholders well before they face scaling challenges,” explains Matteo Ferretti, CEO of Spynn. “Strategic media placement is about positive coverage and maintaining a consistent narrative that withstands business volatility.”

Spynn’s established relationships with top-tier publications help business clients easily get featured on Forbes, Entrepreneur Magazine, and Business Insider. This could have helped Cushion frame its expansion into bill payments as a natural step rather than a pivot forced by necessity.

Strengthening Investor Confidence Through PR

Despite reaching $3 million in annual recurring revenue within ten months, Cushion struggled to scale further. This disconnect between early traction and long-term growth illustrates the importance of investor relations, where strategic PR plays a crucial role. Maintaining investor confidence requires transparent communication—acknowledging challenges while demonstrating a clear roadmap.

Spynn suggests that fintech startups facing scaling issues should regularly engage stakeholders through case studies, success stories, and data-driven insights. A proactive approach could have included quarterly investor updates featuring real-world customer impact and progress milestones.
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“When startups pivot their core offerings, as Cushion did with bill payments, cohesive storytelling across media channels is essential,” notes Matteo Ferretti. “Maintaining continuous top-tier media presence acts as a reputational buffer during business model transitions.”

Managing the Shutdown Narrative Using Crisis Communication

Cushion’s closure presented a final opportunity for strategic PR. While founder Paul Kesserwani acknowledged the company’s struggles on LinkedIn, a more structured communication strategy could have preserved long-term credibility. Even in shutdown, a well-managed narrative can transform failure into a learning opportunity that preserves the founder’s reputation and investor goodwill.

An effective shutdown strategy might have included an exclusive interview with TechCrunch discussing key takeaways, followed by a customer appreciation campaign highlighting the $15 million successfully refunded to users. Additionally, a founder-authored piece reflecting on fintech challenges could have set Kesserwani as a thought leader rather than a failed entrepreneur.

Strategic shutdown communication involves three key phases: acknowledging setbacks, celebrating achievements, and sharing insights that benefit the fintech community. By securing well-placed media features and industry discussions, founders can maintain valuable relationships with investors, customers, and potential future partners.

Resilient Brand Equity Through Consistent Media Presence

Cushion’s AI-driven fee negotiation technology was a significant advancement in consumer finance. However, without consistent media engagement, the company missed opportunities to solidify its leadership in financial advocacy. Spynn’s research indicates that fintech companies maintaining at least quarterly features in top-tier publications show 40% greater resilience during funding than those with sporadic media presence.
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Strategic PR means building brand equity proactively. For Cushion, this could have meant regularly publishing consumer banking insights, positioning its founder as an industry authority, and highlighting user success stories. A steady media presence could have strengthened customer trust and attracted potential partnerships valuable for scaling.

Lessons from Cushion’s Shutdown

Cushion’s shutdown highlights the role of public relations in fintech success. Startups must recognize that having a strong PR team is tied to the growth of any business. This is further highlighted by the fintech terrain of 2025, which demands communication strategies that blend traditional media relations with data-driven storytelling, community engagement, and strategic positioning, all of which must be guided by PR to ensure credibility and consistency.

Emerging fintech startups should take Cushion’s experience as a reminder that technical progress alone isn’t enough. Market perception, investor confidence, and customer engagement are also important.

“The fintech companies thriving in today’s environment understand that reputation equity is as valuable as technological progress,” Matteo Ferretti concludes. “Cushion’s story is a reminder that even the most promising technology requires strategic communication to achieve its full potential. At Spynn, we help fintech innovators build PR infrastructures that support sustainable growth at every stage.”
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