Canadian fintech Clearco confirmed Monday that co-founder Michele Romanow has stepped down as CEO. Andrew Curtis, an experienced financial industry executive, has been named as her replacement effective immediately. The SoftBank-backed company has also cut approximately 25 per cent of its staff, totalling 50 employees, adding to job reductions it made just months ago. Over the past year, The Logic has been breaking news about the challenges the company has been facing and named Romanow as one of tech’s newsmakers of the year.
Here’s what you need to know about the company’s latest turn of events: