Digital banking expertise supplier Quantity is the newest fintech to trim its workforce, lowering its headcount by 18%, in response to Fintech.
Quantity supplies retail banking and point-of-sale expertise to purchasers together with Banco Standard, HSBC, Areas Financial institution and TD Financial institution, serving to them transition to digital monetary providers.
Final yr it hit unicorn standing after elevating $100 million in Sequence D funding, a few of which was earmarked to speed up hiring within the firm’s product, expertise and gross sales teams. On the time, the corporate employed about 400 individuals.
In an announcement to Fintech, CEO Adam Hughes says: “As a result of present macro-economic setting, we’ve got determined to take some proactive changes to make sure Quantity’s means to thrive for years to return.”