Zepz, a $5 billion fintech unicorn, is laying off more staff
Summary
The British fintech unicorn, which is backed by TCV, Accel, Leapfrog and other major venture capital funds, told CNBC exclusively that it laid off 30 roles across its people and marketing functions. "In line with our organisational values, our priority is ensuring all decisions relating to redundancies and restructuring are well-communicated and delivered with humanity while protecting the privacy of those impacted," the spokesperson added. Zepz hasnt been immune to the effects of slowing momentum in the digital payments space, which has forced companies to cut back on costs and, in several cases, lay off staff. Zepz said that, with this in mind, its focus is on "innovation and continuous improvement for our users, delivering meaningful products that make finance more convenient and accessible to migrant communities." "To fully realise our mission to unlock the prosperity of cross-border communities, we sometimes need to make tough decisions," Zepz told CNBC.