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Cellulant's Restructuring: Staff Departures and CEO Exit Precede Strategic Shift

Cellulant's Restructuring: Staff Departures and CEO Exit Precede Strategic Shift

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Discover the inside story of Cellulant's recent upheavals – a series of layoffs, high-profile exits, and the departure of CEO Akshay Grover. The fintech firm's restructuring aims for operational efficiency and a leaner product-focused strategy, following challenges in securing the anticipated $100 million Series D funding.

Cellulant, one of Africa's prominent fintech startups, underwent a third round of layoffs in December 2023, preceding the departure of CEO Akshay Grover. Despite facing challenges in raising the targeted $100 million in a Series D round, the company is now focused on strategic initiatives, including a product-led structure and alignment into core business units. The restructuring follows earlier staff reductions in 2023 and signals a shift towards operational efficiency and a leaner business model.


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