Moss Layoffs

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Berlin-based fintech startup Moss laid off approximately 70 employees, representing about 15% of its workforce, in September 2022. The company, which provides corporate credit cards and had around 500 employees at the time, cited significant changes in the overall economic environment as the reason for the cuts. This move was part of a broader trend of layoffs across the fintech sector, even among well-funded companies. Moss, which had raised $160 million and was valued at $500 million, also implemented a hiring freeze. Despite the layoffs, the company had recently obtained an e-money license from German financial regulator BaFin, aiming to become more independent from its financial partners.

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