Neobank Nuri cuts jobs

At the beginning of the week, Startbase had reported on the research of Finanz-Szene on Nuri. A new round of financing could be imminent, which was also supported by the fact that 150 new employees were hired. Now every fifth job is being cut.

After Gorillas, Klarna and Kontist, Nuri is now following suit: according to information from the Handelsblatt's Neobank is laying off one in five of its employees. In total, 45 of the 200 employees are affected by the job cuts.

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

Earlier this week, Startbase had reported on Finanz-Szene 's research on Nuri. According to this, a new round of financing could be imminent. According to the medium, this was supported by the fact that the Berlin-based company had hired 150 new employees in recent months.

Nuri, formerly known as Bitwala, has already existed since 2015. The neobank combines the advantages of a current account with access to cryptocurrencies. By its own account, Nuri has more than 400,000 customers and manages total assets of around 500 million euros.