Category: Crisis Mode
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The German Trade Republic Joins The Layoff Train!
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Just a week ago, the German online trading unicorn Trade Republic raised another €250 million in Series C funding in a depressed market environment. Now, Trade Republic announced layoffs, the German online Business Insider reports. According to the company, more than 700 people were last employed by the Berlin-based startup.…
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FinTech Crisis – Crypto Exchange Coinbase Extends Hiring Freeze!
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Two weeks ago, the Nasdaq-listed crypto exchange Coinbase paused hiring in an effort to slow its headcount growth amid the dawning fintech & crypto crisis. In one of its latest blog posts on 2 June 2022, Coinbase said that it will extend the hiring pause for the foreseeable future and…
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German-British SumUp Cuts Jobs In Brazil While Expecting Fresh Money!
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According to the #DealMonitor of Deutsche Startups, the German-British FinTech SumUp is about to close a finance round for $400 million at a value of $6.5 billion. The Fintech was founded in 2011 by Daniel Klein, Marc-Alexander Christ, Stefan Jeschonnek, and Jan Deepen. It positions itself as a mobile point-of-sale…
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Breaking: Bolt Financial Forced To Restructure And Shrink!
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Check-out payments startup Bolt Financial is shedding around a third of its workforce, or around 250 employees, as the FinTech sector switches into crisis mode. The layoffs came just months after investors valued the San Francisco–headquartered payment company at $11 billion. Bolt builds software to simplify the check-out process for…
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FinTech Crisis! German Kontist Dismisses 50 Employees
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After the payment provider Klarna, the Berlin banking and accounting startup Kontist (https://kontist.com) has to lay off a quarter of its team because of financial pressure and the need for strategic changes in its business model. The FinTech segment switches into consolidation mode and will force its startup to restructure…