Chipper Cash is supposedly relieving employees of their duties after letting go 13% of its labour force in the later periods, December, of the previous year
The fintech startup has supposedly dismissed over one-third of its employees this week, impacting over hundred employees.
The layoff has impacted the workforce among which are the technical program managers, engineering team leads, engineers, IT staff and analysts. The company has supposedly laid off its crypto department, letting go of all the departmental employees. Other departments workforce have seen the layoff of almost a portion of its employees.
Founded in 2018 by Maijid Moujaled and Ham Serunjogi, Chipper Cash is Africa’s top-rated fintech with no payment peer-to-peer service across the border through its application, the company’s services are utilised in Ghana, Nigeria, Rwanda, Uganda, Kenya, South Africa and Tanzania.
The fintech startup garnered $150 million in a Series C course of action headed by Sam Bankman-Fried’s non-functioning FTX just a few weeks following the declaration of its procurement of Zoona, a Zambian fintech firm.
Following the acquisition of the funding in 2021, Chipper Cash became a high valued company marginally over $2 billion.