The unicorn start-up, which raised an additional $50 million in a Series C extension in June maintaining its valuation of over $2 billion, is said to be planning a restructuring that will see dozens of jobs cut and has reportedly rescinded offers to new recruits, The Evening Standard says.
On reaching out, a Zilch spokesperson told FinTech Futures: “We are shifting our priorities from high growth towards even greater product development and innovation, and as part of this strategic shift in focus, we are planning to hire around 20 people into new positions alongside the ongoing collective consultation process for certain roles that have been placed at risk, resulting in a relatively small net adjustment to our total headcount.”
