Smava lays off around 100 employees

The credit comparison portal is thus parting with almost 17 percent of its entire workforce.

Following the redundancies at Klarna and Trade Republic, the next fintech is now letting go of a significant proportion of its workforce. The Berlin-based credit comparison portal Smava apparently made around 100 employees redundant yesterday, according to financial scene reports. According to the company, it has around 600 employees in total. From marketing to IT, all areas are said to be affected by the redundancies.

Smava did not give a reason for the current layoffs, but the difficult overall economic situation is likely to have contributed to this. How Finanz-Szene reports, the demand for consumer loans is still high, but the creditworthiness of interested parties is declining. As fewer loans are being granted overall, this could harm Smava's business in the long term. Alexander Artopé founded Smava back in 2007. On the loan comparison portal, customers can compare loans from more than 20 banks and other lending partners. Last year, Smava bought the loan comparison platform Finanzcheck for around 200 million euros. This merger has apparently already cost 50 employees their jobs.