In December 2023, fintech startup Treasure Financial laid off 14 employees, which represented approximately 60% to 70% of its workforce. The San Francisco-based company, which provides cash management software and is a registered investment advisor, cited a need to streamline operations and align with strategic goals and financial realities. This move came just months after the company reported explosive growth in mid-2023, having doubled its client base to about 300 and nearly doubled its assets under management to roughly $500 million following a $7.5 million funding round in July. CEO Sam Strasser attributed the layoffs to market conditions and organizational challenges, noting that severance and extended benefits were provided to affected staff.
