Smallcase Layoffs
March 2023
Smallcase announced a layoff affecting 15 employees (4% of its workforce) in March 2023. The company operates in the Finance sector.
15
4%
Mar 21, 2023
About
Fintech startup Smallcase, backed by Sequoia and valued at $200 million, laid off 15 employees, representing 4% of its workforce, as part of a restructuring exercise over a three-month period ending around March 2023. The company described the move as a normal business adjustment, but sources indicate it followed the implementation of Performance Improvement Plans and came amid growing financial pressures. Smallcase reported a significant increase in losses, reaching Rs 76.2 crore in FY 2021-22, a 196% year-on-year rise, largely driven by a surge in marketing and promotional expenses. Founded in 2016, the platform enables retail investment in stock and ETF portfolios.
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