Chipper Cash Layoffs
December 2023
Chipper Cash announced a layoff affecting 15 employees (33% of its workforce) in December 2023. The company operates in the Finance sector.
15
33%
Dec 11, 2023
About
Chipper Cash, an Africa-focused fintech unicorn, laid off 15 employees in December 2023, marking its fourth round of job cuts within a year. This restructuring primarily affected its US team, with no roles in Africa impacted. The company, which facilitates cross-border payments and other financial services across the continent, stated the move was to ensure organizational efficiency and emphasized its business was performing well, expecting profitability soon. Alongside the layoffs, the company also reportedly reduced salaries for remaining staff in the US and UK. Founded in 2018, Chipper Cash had previously achieved a valuation of $2.2 billion and has raised over $300 million from notable investors.
Source
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