Moss lays off 70 employees

According to a media report, the fintech is putting some of its staff out the door. At the same time, the start-up was able to raise 75 million euros at the beginning of the year.

Last Friday, Berlin-based fintech Moss announced, according to a report by Finance Forward 70 employees announced their layoffs. That is likely to represent about 15 percent of its 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 legal minimum.

The announcement comes as a surprise. Just a week ago, Moss announced that it had received a key license from the German Federal Financial Supervisory Authority (Bafin). The fintech also raised €75 million in a funding round as recently as earlier this year. At that time, it announced its intention to expand to the United Kingdom, among other countries.

The current economic situation, in turn, is now also leading to the start-up not wanting to hire any more staff for the time being. As Finance Forward reports, it has taken the list of job openings off its website.