Moss

German fintech startup Moss has laid off approximately 30 employees, primarily from its commercial department, as confirmed by the company. This follows a previous round of layoffs in September 2022, when the workforce was reduced from around 500 to about 380 employees. The company, which has raised $160 million and was last valued at $500 million, cites a strategic adjustment to accelerate its path to profitability amid a challenging funding environment. This move is part of a broader trend of workforce reductions within the fintech industry.

Berlin-based fintech startup Moss laid off approximately 70 employees, representing about 15% of its workforce, in September 2022. The company, which provides corporate credit cards and had around 500 employees at the time, cited significant changes in the overall economic environment as the reason for the cuts. This move was part of a broader trend of layoffs across the fintech sector, even among well-funded companies. Moss, which had raised $160 million and was valued at $500 million, also implemented a hiring freeze. Despite the layoffs, the company had recently obtained an e-money license from German financial regulator BaFin, aiming to become more independent from its financial partners.