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Exclusive: Co-founder Clash Forces YC-Backed Fintech Pivo to Cease Operations 💔

Exclusive: Co-founder Clash Forces YC-Backed Fintech Pivo to Cease Operations 💔

#fintech
#startup
Nigerian fintech Pivo, a YC-backed digital bank for trade, faces closure due to an unresolved co-founder conflict. The clash between CEO Nkiru Amadi-Emina and COO Ijeoma Akwiwu has reportedly damaged the company's reputation, affecting its ability to secure future funding. The closure follows a $2 million seed round and investor interventions aimed at resolving the internal dispute. 🚫💰

Nigerian fintech startup Pivo, a YC-backed digital bank specializing in trade, is shutting down a year after raising a $2 million seed round. Unlike other closures due to economic challenges, Pivo's demise is attributed to an unresolved co-founder conflict between CEO Nkiru Amadi-Emina and COO Ijeoma Akwiwu. The internal dispute has reportedly impacted the company's reputation and fundraising prospects, leading to the decision to cease operations. The conflict, which began after the seed round announcement in 2022, involved disagreements over company appointments and external business involvement. Despite investor interventions in May 2023 to reconcile the founders, Pivo is now closing down, leaving questions about the transition for its users. 


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