Irish start up Wayflyer has cut 70 jobs in Dublin, hours after reporting "substantial growth" for 2022.
The investment firm is cutting staff by 40% globally, reducing staffing levels to 300, where it was 10 months ago.
Wayflyer is one of Ireland's 6 "unicorn" companies - meaning it's a start-up valued at over €1billion.
In a statement, its CEO Aidan Corbett says: "We tried to scale our organisation very aggressively over the past 15 months, and in hindsight we tried to do too much, too soon.
"We are sorry to be losing many great colleagues, who have helped Wayflyer become a market leader in revenue based finance.
"We have notified the appropriate government officials and will soon enter into a consultation period for roles at risk of redundancy this month."
