CapWay, a fintech startup backed by Y Combinator, has officially shut down, as confirmed by its founder, Sheena Allen. The company aimed to provide financial services to underserved communities, known as banking deserts. Allen expressed disappointment over the closure, citing a failed acquisition and the challenges within the fintech sector. Despite raising nearly $800,000, CapWay struggled to secure a banking partner amid heightened requirements and increased competition for funding, particularly affecting Black founders. Allen remains committed to financial inclusion and is exploring new entrepreneurial opportunities.