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Nigerian Fintech Earnipay Lays Off Staff Amid Shift to Business Lending Focus

Summary by Tekedia
Earnipay, a financial technology (fintech) solution that provides flexible and on-demand salary access to income earners, has laid off a part of its workforce. The company’s CEO Nonso Onwuzuike describes the move as a “difficult but necessary” decision, noting that it is part of a strategic shift toward business lending, the company’s most profitable segment. […] The post Nigerian Fintech Earnipay Lays Off Staff Amid Shift to Business Lending Fo…
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TekediaTekedia

Nigerian Fintech Earnipay Lays Off Staff Amid Shift to Business Lending Focus

Earnipay, a financial technology (fintech) solution that provides flexible and on-demand salary access to income earners, has laid off a part of its workforce. The company’s CEO Nonso Onwuzuike describes the move as a “difficult but necessary” decision, noting that it is part of a strategic shift toward business lending, the company’s most profitable segment. […] The post Nigerian Fintech Earnipay Lays Off Staff Amid Shift to Business Lending Fo…

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thecondia.comthecondia.com

EXCLUSIVE: Earnipay cuts workforce amid profitability push

Earnipay, the Nigerian fintech best known for its earned wage access (EWA) product, has laid off a portion of its team in a move founder and CEO Nonso Onwuzulike describes as “difficult but necessary.” In a statement seen by Condia, he cited the company’s high burn rate and a shift in focus toward its most profitable segment—business lending—as the primary reasons for the decision. The layoffs come just over two years after Earnipay raised a $4 …

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thecondia.com broke the news in on Thursday, April 3, 2025.
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