Earlier, Juni laid off 10% of its workforce. Credit: Gerd Altmann from Pixabay.

Juni, a Swedish fintech company, has announced plans to lay off 30% of its workforce citing market conditions.

In a LinkedIn post, Juni co-founders Samir El-Sabini and Anders Orsedasaid said: “We are reducing our workforce across the business and sadly, we will be saying goodbye to a third of our incredibly talented people.”

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The announcement comes just two months after Juni axed 10% of its workforce, Sifted reported.

According to the post, despite the economic downturn, the firm is continuing its growth trajectory and transaction volumes on its platform have grown more than 100% since June this year.

“Our decision to re-evaluate our organisational structure and operational model is a proactive one that ensures we are best positioned to face any challenge that this broader macroeconomic context might bring in the future. Our strategic goals remain unchanged”, the co-founders said.

Responding to the publication’s query, a Juni spokesperson said: “We have 217 employees at Juni and roughly a third will be impacted by these changes. We are restructuring our organisation and operating model, and all areas are therefore impacted.”

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In June this year, the fintech closed its $206m funding round, which comprised both equity and debt investment.

The round saw participation from Mubadala Capital, EQT Ventures, Felix Capital, Cherry Ventures, Partners of DST Global and TriplePoint Capital.

The firm has raised $282m in funding since its inception in 2020. Earlier this month, fintech firm Chime said it has axed 12% of its workforce due to unfavourable market