Neobank Nuri cuts jobs

At the beginning of the week, Startbase reported on Finanz-Szene 's research into Nuri. A new financing round could be imminent, which was also supported by the fact that 150 new employees were hired. Now one in five jobs is being cut.

After Gorillas, Klarna and Kontist, Nuri is now following suit: according to the Handelsblatt Neobank is making one in five employees redundant. A total of 45 of the 200 employees are affected by the job cuts.

Nuri Managing Director Kristina Walcker-Mayer cites a change in strategy as the reason. The interest rate turnaround in the USA, inflation and the war in Ukraine have led to uncertainty on the financial market. "Market developments are not a short-term trend. That's why we can't wait too long and have to act quickly," Nuri Managing Director Kristina Walcker-Mayer told Handelsblatt. By cutting jobs, Nuri now wants to become profitable sooner. Nuri was already profitable in the first quarter of last year, but then invested in growth.

At the beginning of the week, Startbase reported on research by Finanz-Szene on Nuri. According to this, a new financing round could be imminent. According to the medium, the fact that the Berlin-based company has hired 150 new employees in recent months speaks in favor of this.

Nuri, formerly known as Bitwala, has been in existence since 2015. The neobank combines the advantages of a current account with access to cryptocurrencies. According to Nuri, it has more than 400,000 customers and manages total assets of around 500 million euros.