Smava lays off almost one hundred employees

This corresponds to a good 15 percent of the workforce. A number of employees already had to leave the Berlin-based fintech in August.

Smava has laid off around 15 percent of its workforce, according to start-up scene writes. That would be around 100 employees. People who have been made redundant have already commented on Linkedin. The company cited the generally tense economic situation as the reason for the move, which is forcing Smava to implement extensive cost-cutting measures. The fintech, which was founded in 2007, laid off around a tenth of its 1,000 employees back in August.

According to the Gründerszene report, 700 people are now still employed by the company. On its own website, Smava speaks of around 600 employees.

Smava brokers consumer loans, which are offered by 20 banks. The start-up has grown most of the time since it was founded in 2007. According to its own information, investors have invested a total of 159 million euros in the fintech. Last year, Smava took over its competitor Finanzcheck for an estimated sum of 200 million euros.