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May 22, 2025

Read the memo Builder.ai CEO sent investors blaming lenders for company’s collapse

After filing for insolvency, newly-appointed CEO Manpreet Ratia laid out the company’s financial situation

After AI unicorn Builder.ai told employees it had collapsed into insolvency on a company-wide call earlier this week, CEO Manpreet Ratia sent a memo to investors blaming the collapse on its lenders’ “unexpected and irreversible” actions. 

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Kai Nicol-Schwarz

Kai Nicol-Schwarz was a senior reporter at Sifted. He covered AI and UK tech.

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