Capital Assist files legal complaint against Fuzzy
In June, we first covered Fuzzy going dark. As background, Fuzzy was a pet care startup founded in 2016 that has raised $80.5 million from several investors, including Icon Ventures, Greycroft, Crosscut, and Matrix Partners.
Adding fuel to the fire is a legal complaint filed by Capital Assist, LLC against Fuzzy , and its founders on June 23, according to Trellis, a state trial court research and analytics platform.
Capital Assist alleges that they had an agreement with Fuzzy to buy the company’s future receivables for $164,890. Yet, Fuzzy breached this contract, failing to honor the payment schedule and even changing its bank account details. Capital Assist is now seeking judgment for the owed amount, along with accrued interest, legal costs, and attorney’s fees.
The complaint provides specific details about the breach of contract, including the amount owed by Fuzzy ($119,545.14) and the default fee incurred ($39,449.90). It also mentions that the individual guarantors are responsible for any amounts owed by Fuzzy. The complaint seeks judgment against Fuzzy and the individual guarantors for the amount owed, plus interest, costs, and attorney’s fees.
Bottom Line: “Unfortunate outcome.”