One of Flipcause’s largest investors is seeking at least $1.15 million from the company’s former executive chairman.
Grand Avenue Advisors, a private equity firm, filed suit Jan. 27 against Emerson Ravyn in New York Supreme Court in Kings County. The suit claims Ravyn “absolutely and unconditionally” personally guaranteed the promissory note.
The lawsuit comes as Flipcause’s bankruptcy case moves towards liquidation. Earlier this month, court-appointed Trustee Jeffrey Testa asked a federal judge to convert the bankruptcy case to Chapter 7, citing a lack of revenue and ongoing administrative costs.
As part of a proposed settlement in the case, Grand Avenue agreed to assign its claims against Ravyn to the bankruptcy estate.
Flipcause Co-founder Guaranteed Loan
Grand Avenue Investments LP – Series 14B, a limited partnership for tech investments, loaned Flipcause $600,000 in August 2023, according to bankruptcy court filings. The equity series is owned by New Jersey-based Grand Avenue Advisors.
Flipcause was scheduled to begin making monthly repayments in August 2025, but failed to make payments in August, September, and October 2025, according to the complaint.
Grand Avenue demanded full payment—the principal and accrued interest—of the loan on Oct. 24, 2025. The company is owed “no less than $1,155,290.35,” according to the lawsuit.
Ravyn breached the guarantee by failing to pay the amount due after Flipcause defaulted, the lawsuit argues.
Flipcause filed for Chapter 11 bankruptcy on Dec. 19, 2025, revealing the company owed nearly $29 million to more than 3,200 nonprofits nationwide. Bankruptcy typically halts lawsuits against companies, but creditors can still pursue individuals that personally guaranteed debts. Court records also revealed that Flipcause executives, including Ravyn, received more than $3.8 million in payments before the bankruptcy filing.
Lawsuit is first to target Flipcause Co-founder personally
Flipcause, a Delaware corporation that was based in Oakland, is not named as a defendant in the New York case.
This appears to be the first personal lawsuit filed against Ravyn or any Flipcause executive since bankruptcy.
Ravyn guaranteed at least two other loans with other investors in August 2023: Firmage Investments for $100,000 and Willden Properties for $50,000, according to bankruptcy court claims.
On March 18, process servers attempted to deliver the lawsuit papers to Ravyn’s Brooklyn residence. The documents were left with a doorman after Ravyn declined to let them upstairs, according to court filings.
Ravyn has 30 days to respond to the lawsuit. If not, he risks a default judgment being entered in favor of the plaintiff.
Neither Ravyn, Grand Avenue Advisors and its attorney, responded to requests for comment.
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