Fintech startup Klub halves workforce

Bengaluru-based financing startup Klub laid off about 60-70 employees in September and paused its commerce operations, according to multiple people aware of the developments.

- Samiksha Goel

The company has been trying to raise capital and has restructured its workforce and operations because of funding challenges, according to one of the persons Mint spoke to. Its employee strength has come down from over 100 to about 45.

Klub offers flexible funding to businesses, letting them repay based on future revenue instead of fixed schedules or giving up equity. The company's core offering is its capital business, and it started the cross-border commerce enablement business about a year ago. The commerce division helps brands expand their e-commerce presence internationally, managing logistics, payments, and onboarding to various marketplaces.