Moss lays off 70 employees

According to a media report, the fintech is laying off part of its workforce. The start-up was able to raise 75 million euros at the beginning of the year.

According to a report by Berlin-based fintech Moss last Friday Finance Forward 70 employees announced their redundancy last Friday. This is likely to correspond to around 15 percent of the workforce.

In an interview with the magazine, co-founder Ante Spittler cited "significant changes in the overall economic environment" as the reason. The severance payments for employees are to exceed the statutory minimum.

The news comes as a surprise. Only a week ago, Moss announced that it had received an important license from the German Federal Financial Supervisory Authority (Bafin). The fintech was also able to raise 75 million euros in a financing round at the beginning of the year. At the time, it announced plans to expand into the UK, among other countries.

The current economic situation, in turn, means that the start-up does not want to take on any more staff for the time being. As Finance Forward reports, it has removed the list of vacancies from its website.