In April 2023, the fintech and investment research platform Tickertape, which is backed by Smallcase, laid off 29 employees, constituting approximately 30% of its workforce. The layoffs were part of an internal restructuring, a move the company stated was influenced by a challenging funding environment that has impacted many startups. Tickertape, a platform providing tools and analysis for stocks and mutual funds, had raised $5 million in seed funding in late 2021. The company reported a loss of Rs 16.4 crore against revenue of Rs 3.01 crore for the fiscal year ending March 2022, highlighting the financial pressures within the competitive fintech sector.
