Credit Sesame, a Mountain View-based fintech startup, laid off 22 employees on June 3, 2020, representing nearly 14% of its 160-member workforce. The company, which provides credit score monitoring, loan comparison, and mortgage refinancing services, cited the impact of the COVID-19 pandemic as the primary reason. Restrictions imposed by credit suppliers during the economic downturn squeezed its core credit business, forcing the difficult decision to ensure long-term sustainability. Despite being valued at $251 million in 2018 and aiming for a $1 billion valuation, the pandemic disrupted its plans, including a potential public listing that year.
