After letting go 13 % of its labour force last year, Chipper Cash has dismissed another one-third of it’s employees this week.
The layoff of the Fintech company has affected many of its professionals such as technical program managers, engineering team leads, engineers, IT staff and analysts.
In addition, the company has stopped operation of the crypto department after letting go of all the departmental 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. Countries like Ghana, Nigeria, Rwanda, Uganda, Kenya, South Africa and Tanzania have been major beneficiaries of the company’s services.
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.