FinanceIN
FamPay Layoffs
August 2023
FamPay announced a layoff affecting 18 employees in August 2023. The company operates in the Finance sector.
People Affected
18
Announced Date
Aug 2, 2023
About
Indian fintech startup FamPay, a neo-bank for teenagers backed by Peak XV, has laid off 18 employees in its second round of job cuts, as reported in August 2023. The company, founded in 2019, is streamlining operations to optimize its business model in the competitive digital payments industry. While the exact percentage of the workforce affected wasn't specified, this move reflects broader challenges and restructuring efforts within the startup sector to achieve sustainable growth.
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