Once a FinTech darling, Brex lays off 20% as growth slows & burn rate remains high 😳; Towards End-to-End Ownership: Fiserv seeks special bank charter 🏦
FinTech is Eating the World, 23 January
Hey Everyone,
Happy Tuesday! Today’s newsletter is super interesting as we’re looking at Brex laying off 20% amid slowing growth and crazy burn rate (uncovering all the details, and see what this tells us about the future of Brex & the broader FinTech ecosystem), and Fiserv that seeks special bank charter (& why end-to-end ownership makes perfect sense). Let’s jump straight into the interesting stuff 🌶
Once a FinTech darling, Brex lays off 20% as growth slows & burn rate remains high 😳
The news 🗞️ San Francisco-based FinTech startup Brex just laid off 282 employees, or about 20% of its staff, amid reports of slowing growth and ongoing high cash burn.
On top of that, the COO and CTO are leaving too.
Let’s take a closer look at this, uncover all the details, and see what this tells us about the future of Brex and the broader FinTech ecosystem.