Chipper cash, the cross-border African payment startup that allows for international transfers across African countries has announced it layed off for the 4th time,15 non-African employees this year.
Recall in December 2022, a year after the company raised N150 million in a round led by FXT, layed off some of its employees for the first time.
Subsequently, a second layoff of 15% of its workforce and during the third, the fintechs COO, Alicia Levine, and Kenya country director, Leon Kiptum who are major staffs were also affected.
In a report by tech cabal, Chippercash has cut salaries of its remaining US and U.K. employees. Fintech also claims it is doing well despite the recent hurdles in the last months.
The publication also reported that no role in Africa was affected. “No roles in Africa were affected- this year we have expanded teams on the continent. Our business is doing very well and will be profitable in a few months”.
Fintech began its first layoff after its major investor, FXT, failed due to bankruptcy. Nestcoin, another company whose lead investor was FXT, also announced layoffs and procured huge losses due to the crypto company’s failure.
Chipper cash was launched in 2018 by Ham Serunjogi, and allows for Africans to perform transactions across 8 African countries with Nigeria inclusive.
