. Robinhood, Klarna and Coinbase have all announced layoffs in recent months.
Fundbox was founded in 2012 by Eyal Shinar, Yuval Ariav and Tomer Michaeli. Shinar served as CEO before moving to chairman in 2020. Since then, Prashant Fuloria has filled the CEO position. “The truth is that we grew our team too fast, and we need to course correct,” Fuloria wrote in a letter to Israel-based employees. “While we are well capitalized with over $100M in liquidity, we also need to be careful stewards of investor capital.”
In the past year, Fundbox increased its head count by 14%, adding 44 employees, LinkedIn data indicates. The new hires
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