Chipper Cash to cut off many of their talent pool
Pan-African FinTech Chipper Cash has reportedly laid off more than a third of its staff. Chipper Cash relieved almost one-third of its workforce, about 100 employees.Thus, in addition to the first round of layoffs, the five-year-old payments and crypto startup has let go of over 150 employees in the last three months to cut costs amid a torrid period for private and public tech companies globally.
“Friday was a sad day for Chipper Cash, as many talented people were let go,” Stefano Pardi, the company’s vice president of revenue, wrote on LinkedIn.
This happen after campany acquired Zoona to accelerate Cipper Cash expension accross Africa. Zoona was founded in 2008 and went on to develop the Tilt service, enabling payments and transfers to any bank or mobile money provider in Zambia via any cash or digital channel, plus a network of more than 450 interoperable agents. Zoona was an early pioneer in the African mobile money payments industry and to date has processed funds totalling more than $3 billion in value. Zoona holds a Payments Systems Business license from the Bank of Zambia.
Stefano Pardi, the company’s vice president of revenue declared that : '' 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!'': Pardi added.
The company was valued at $2 billion in 2021 after raising more than $150 million from investors that included Amazon founder Jeff Bezos’ Bezos Expeditions.
Founded in 2018, Chipper Cash is specializes in app-based, no-charge, peer-to-peer (P2P), cross-border payments in Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania and Uganda.
