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Fintech Startup TrueLayer Trimming 10% of Staff, Citing Challenging Market Conditions

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More crypto-related layoffs as London-based open banking startup TrueLayer - which recently raised $130M at a $1B+ valuation – announces a 10% staffing cut. Reporting by oknightcrypto

The company informed its staff of the news in an all-hands meeting on Thursday before announcing it to the public in aTrueLayer is a business designed to bridge the gap between fiat currencies and crypto by providing infrastructure to firms like Revolut, which offers banking services, and MoonPay, a platform that allows users to buy and sell cryptocurrencies.led by Tiger Global and Stripe at a valuation of over $1 billion.

"You may understandably ask what has changed in the past 12 months," TrueLayer CEO Francesco Simoneschi said in the blog post."We are now operating in a very different context and more challenging market conditions. TrueLayer, while being in a position of strength, is not immune to these broader factors."

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