Zepz, a $5 billion fintech unicorn, is laying off more staff
Publishing timestamp: 2023-11-30 04:00:02
Summary
Zepz, a British fintech unicorn backed by major venture capital funds, has announced a fresh round of layoffs. The company has laid off 30 roles across its people and marketing functions, following a previous round of layoffs in May. The layoffs are attributed to duplication of roles resulting from the acquisition of Sendwave, another money transfer service. Zepz has been affected by the slowing momentum in the digital payments space and is focusing on innovation and continuous improvement. The company's timeline for an IPO is currently unclear, but it was last valued at $5 billion, making it one of the largest and most valuable fintech companies in Europe.
Sentiment: NEGATIVE
Tickers: ACEL,
Keywords: technology, business news, internet, fintech, tpg pace holdings corp, markets, breaking news: markets, breaking news: technology,
Source: https://www.cnbc.com/2023/11/30/zepz-a-5-billion-fintech-unicorn-is-laying-off-more-staff.html