Cellulant, a Kenya-based fintech startup, is laying off 20% of its workforce as part of a restructuring effort to transition to a leaner, product-led business model. This follows a previous round of layoffs six months earlier that affected about 30% of staff. CEO Akshay Grover stated the move aims to boost operational efficiency, consolidate functions, and reallocate capital to drive growth across its 19 markets. The decision reflects the company's response to a dynamic operating environment and its goal to remain a market leader.
