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First it was Custimy. Now Make Influence has also filed for bankruptcy – and resurrected

Summary in Short:

Danish startup Custimy.io filed for bankruptcy in April, leading to rumors that its acquisition of influencer platform Make Influence had caused financial issues. CEO Rasmus Bruus Larsen clarified that Make Influence was not bankrupt, but eventually, the company faced pressure and competition after Custimy’s bankruptcy. Despite efforts to secure backing to buy the company’s shares, Make Influence ultimately had to shut down. Another buyer acquired the company’s assets, ending Bruus Larsen’s involvement. While disappointed with the outcome, he remains proud of his achievements and looks forward to building future companies.


At the end of April, Custimy.io filed for bankruptcy.

Learn more: The goal was to become a unicorn. But despite millions in investments, the Danish startup is now in bankruptcy proceedings

Rumors initially surfaced that Custimy’s acquisition of influencer platform Make Influence had caused issues for the latter. However, CEO and founder of Make Influence, Rasmus Bruus Larsen, quickly dispelled these rumors.

Learn more: CEO clears up confusion after Custimy crash: “Make Influence is not bankrupt!”

Unfortunately, these rumors have now materialized.

Rasmus Bruus Larsen has been working for months to keep Make Influence operational and secure financial support to buy the company’s shares from the Custimy bankruptcy estate.

“After Custimy went bankrupt, a competitor spread misinformation about Make Influence’s financial status. This caused significant pressure on our company, leading to its downfall. Despite my efforts to dispel the rumors and recover, I eventually had to give up,” explains Rasmus Bruus Larsen.

Surviving After Bankruptcy

Last summer, Custimy.io announced a merger with Make Influence. However, the merger never occurred, and when Custimy.io went bankrupt, Make Influence continued to operate independently, now under the ownership of Custimy’s bankruptcy estate.

Learn more: Custimy bankruptcy: “There was a lot of money spent, but it never achieved the growth that the money attributed to it”

Rasmus Bruus Larsen had gathered a group of investors prepared to purchase Make Influence’s shares from the Custimy bankruptcy estate. Unfortunately, the majority owner of the estate, EIFO, declined this offer.

“EIFO lacked the rights to pledge the shares, meaning they would have to share any profits from a sale with all creditors. Consequently, they weren’t interested,” adds Rasmus Bruus Larsen.

Due to EIFO’s involvement, Make Influence was forced to shut down. Rasmus Bruus Larsen attempted to acquire the remaining assets from the bankruptcy estate, but faced competition from rivals and past clients amid lingering bankruptcy rumors.

The saga concluded when the assets were bought by a different buyer last week.

“Although we had a solid plan, a higher bid was submitted after the trustee closed the bidding round. Now, they will be the ones running Make Influence,” laments the entrepreneur.

Moving Forward

Following recent developments, Rasmus Bruus Larsen will no longer be involved with Make Influence after a transient advisory role during the handover.

Learn more: First-time founders burned through 25 million: “We come into this game thinking this is how it is: The higher, the wilder”

Despite frustrations, Rasmus Bruus Larsen reflects on his accomplishments with pride.

“I made decisions, including insufficient due diligence on Custimy’s CEO, that I regret today. It ultimately led to my company’s demise. Yet, I’m immensely proud of our achievements,” he shares.

His wish is for Make Influence’s creditors, particularly influencers, to be treated well and for the new owners to uphold the company’s vision.

“I’ve been tirelessly working for years now. It’s important for me to take a step back, reflect on my lessons, and prepare for my next venture. This is just the beginning,” asserts Rasmus Bruus Larsen.

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