A second round of layoffs at the international payments company Chipper Cash followed the initial 12.5% in December of last year.
Stefano Pardi, Vice President of Revenue at Chipper Cash, broke the news on his LinkedIn profile and described it as a terrible event for the business.
“Friday was a sad day for Chipper Cash, as many talented people were let go.
For my network: there is an incredibly talented pool of individuals across the US, UK, South Africa, Nigeria, Kenya, and more. They are all highly experienced in managing very complex, multicultural teams and projects in Fintech. All areas have been impacted, from Recruiting, HR, Marketing, Pricing, Product, Analytics, UX, Research, Legal, and more.
If you are recruiting: look out for the Chipper Cash folks, you might have the opportunity of a lifetime to hire competent, passionate, and driven people into your team. They are all battle-scarred and experienced in scaling a business!
For my Chipper family, my network is open to you. Reach out/connect if you need help! I have been honored to work with many of you and I am here to support as I can.”
Leveraged across five African countries including Nigeria and Kenya, as well as the US and UK, the fintech company enables bill payment, cross-border money transfers and bitcoin purchases.
It earns revenue through foreign-exchange fees and crypto brokerage commissions. From about two million registered users in 2020 to more than five million by the end of 2021, Chipper Cash has continued to grown commendably.
The company was founded by Ham Serunjogi and Maijid Moujaled, and was one of Africa’s unicorns in 2021 when it raised $150 million Series C funding in an extension round led by Sam Bankman-Fried’s now-defunct cryptocurrency exchange platform FTX, and was valued at $2.2 billion. The startup has raised $280 million in funding from Deciens Capital, FTX Ribbit Capital and others.