Chipper Cash Layoffs
December 2022
Chipper Cash announced a layoff affecting 50 employees (13% of its workforce) in December 2022. The company operates in the Finance sector.
50
13%
Dec 6, 2022
About
In December 2022, African fintech unicorn Chipper Cash laid off approximately 12.5% of its workforce, affecting over 50 employees out of a total of about 400. The layoffs impacted multiple departments, with the engineering team bearing the brunt, accounting for around 60% of the cuts. The company, valued at $2.2 billion in 2021 and operating in the cross-border payments sector across Africa and the U.K., had raised significant funding, including a $150 million extension led by FTX just months prior. This restructuring occurred amid broader market challenges, reflecting strategic adjustments within the high-growth fintech startup.
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