Danish startup Pleo has announced that it plans to lay off around 15% of the company’s workforce. As the company currently has nearly 1,000 employees, it could affect up to 150 people. Pleo develops expense management tools for SMBs around Europe. “I’ll be honest. Pleo today, at the point of almost 1,000 employees and with […]
After trying for years to replicate the success of its QR code-enabled payments solution overseas, Ant Group seems to have finally found a path to scaling. Instead of going after end users, the Alibaba-affiliated fintech giant has been quietly forming partnerships with local payments providers in Asia. It’s built something akin to the Mastercard or […]
Benjamin Döpfner has been building companies since he was a teenager. One of his more recent ventures was based in Berlin and at the time of its founding in 2019, Germany actually had negative interest rates – meaning that the company was paying back 50 basis points, or half a percent for each Euro that […]
Stripe has announced that it’s laying off 14% of its workers, impacting around 1,120 of the fintech giant’s 8,000 workforce. The latest round of layoffs follows a string of cutbacks in the fintech sphere, with Brex last month revealing it was scything 11% of its workforce, while just yesterday Chime confirmed that 12% of its […]
Matt McKinney was a data science manager at Uber, helping launch Uber Freight, along with software engineer Shaosu Liu. One of the main problems the pair saw there was that while they were able to grow the top line, they found it difficult to grow the bottom line because they were “losing a bunch of […]
Meet Fintecture, a French startup that wants to upgrade B2B payments. While many payment companies have focused on B2C payments with Stripe leading the way, B2B payments haven’t changed much over the years. “In the U.S., there are still a lot of paper checks. In Europe, it’s mostly transfers and manual reconciliation,” Fintecture co-founder and […]
Digital bank Chime confirmed today that it is laying off 12% of its workforce, or about 160 people. The Information first reported the news. According to an internal memo obtained by ZebethMedia, Chime co-founder Chris Britt described that the move was one of many that would help the company thrive “regardless of market conditions.” In […]
In the early days of the COVID-19 pandemic, interest rates for mortgages dropped to historic lows. Predictably, home buyers made hay, taking full advantage of the favorable financial environment to pick up new homes and refinancing mortgages on their existing homes. Startups operating in the financial side of the real estate tech market suddenly faced […]
Opendoor is letting go of about 550 people, or 18% of the company, across all functions, its co-founder and CEO Eric Wu announced in a blog post today. The real estate technology company is one of many real estate tech companies that have had to lay off workers in 2022. Online mortgage lender Better.com has […]
Caesar Sengupta has worked on, and overseen, several category-defining projects in the past decade and a half. As a product lead at Google, he was in charge of ChromeOS, the company’s desktop operating system. He then headed the Android-maker’s Next Billion Users initiative that made products such as Google Pay in India to serve and […]
