[“We were unable to close a successful fundraising round,”]

In a statement issued via its official Twitter handle on Thursday, the CEO, Njoku Emmanuel, said Lazerpay ceased operation after multiple fruitless efforts to raise funds for the business’s survival.

“We were unable to close a successful fundraising round,” Emmanuel explained to stakeholders.

He said, “We fight hard to keep the lights on as long as possible, but unfortunately, we are now at a point where we need to shut down.”

The firm promised to resolve all outstanding matters before the disruption, and merchants were advised to withdraw their funds from the platform before April 30, 2023.

Recall that the Nigerian crypto payments startup commenced operation two years ago, intending to drive crypto adoption globally. The firm has enabled over 3,000 businesses to accept payments in stablecoins, including an off-ramp feature to help merchants convert crypto to fiat directly to the bank in over 100 countries.

Last November, Lazerpay fired members of its team in a bid to extend its operating runway after a proposed lead investor pulled out abruptly due to market conditions and disagreements on terms.

Notably, the firing round occurred after the company’s employees agreed to a pay cut, while the management team took zero salaries.

Post Reply

Posted: at 15-04-2023 09:38 PM (1 year ago) | Addicted Hero

WHEN IT RAINS, IT POURS!

Posted: at 15-04-2023 09:56 PM (1 year ago) | Gistmaniac

 

Posted: at 15-04-2023 10:44 PM (1 year ago) | Grande Master

In case you're not a properly knowledgeable user in the crypto world,  there are some things to keep in mind before making a digital wallet By following a comprehensive guide https://sparrowiki.com/ you're likely to feel protected in paying additional fees or facing any kind of other financial risks. It may be essential to understand the basics of this rapidly changing niche

Posted: at 17-11-2023 11:18 AM (6 months ago) | Newbie

Reply: