Tomorrow lays off many employees

The start-up has to make savings due to the poor overall economic situation and is laying off around a quarter of its workforce.

Tomorrow is laying off around 30 of its 120 employees. According to the company, the reason for the redundancies is the difficult macroeconomic situation. "In order to guarantee stability for the majority of the team and our mission in the future, we now have to take a painful step and let go of almost a quarter of the workforce," the fintech writes on LinkedIn.

Tomorrow is currently trying to become profitable. This year, the fintech switched its business to a purely premium customer business. Previously, customers could manage their account with Neobank free of charge, but now they pay a few euros in fees each month. This year, Tomorrow also launched its own equity fund, "Tomorrow Better Future Stocks", which aims to invest in sustainable companies. In November, the start-up raised around 3.5 million euros in a crowd-investing round. Around 3,500 people took part.

Inas Nureldin, Jakob Berndt and Michael Schweikart founded the start-up in 2018. Tomorrow is a neobank that has committed to investing its customers' money only in sustainable projects. Tomorrow uses Solaris' banking license for this purpose.