Cashfree Payments Layoffs
January 2023
Cashfree Payments announced a layoff affecting 100 employees in January 2023. The company operates in the Finance sector.
100
Jan 12, 2023
About
In January 2023, the Bengaluru-based fintech startup Cashfree Payments laid off approximately 100 employees, representing about 6-8% of its workforce, as part of a cost-reduction effort amid a challenging funding environment. The company, backed by YCombinator and Apis Partners and valued at $200 million, conducted this organizational restructuring primarily affecting sales and merchant onboarding roles. This move reflects broader pressures in the fintech sector, including a funding crunch and tightening regulations from the Reserve Bank of India, which have complicated Cashfree's plans to raise additional capital.
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