Pivo, a Nigerian supply chain fintech, has shut down. The Y Combinator-backed startup has ceased operations a year after securing a $2 million seed round.
In 2022, Jumia revealed it lost $207 million in 2022 $49.2 million in Q4 alone. The company also confirmed that it reduced its staff count in Dubai by 60%, and laid off 900 people in total in 2022. More in #TCDaily.