Nigerian fintech startup OnePipe has laid off an undisclosed number of employees, described as a "handful," as part of measures to extend its runway. This follows the company securing a $4.8 million credit facility from TLG Capital in 2024, aimed at providing inventory finance to small shops in Nigeria's informal sector. The layoffs, coupled with pay cuts for the executive team, come despite the new funding and the company's mission to aggregate financial APIs for seamless partnerships. OnePipe, which employs around 50 people, continues to focus on scaling its services to support micro-enterprises.
