FinTech news in clearco category

As Clearco international workforce is cut, its global clients will now turn to Outfund, an e-commerce investor that operates in the U.K. and Australia. The latest workforce reduction is just one step Clearco has taken over the past few months, including prior rounds of layoffs, to refocus its business operations amid the changing e-commerce scene. When Clearco cut a quarter of staff in July, Romanow said at the time that it was considering strategic options for its international operations. One month after cutting 25% of its total staff, Clearco is conducting another round of layoffs as it retracts its international presence in the U.K., Germany, Ireland and Australia.

After assessing the current market conditions and uncertainty we’re seeing across the e-commerce sector, this was the most prudent action to take and was necessary to.

Clearco co-founder Andrew D’Souza tells journalist that he has stepped back from his role as chief executive at the fintech company.