A Nigerian cloud kitchen startup that has recently suspended operations due to financial difficulties.
Nigerian fintech Gigbanc winds down operations citing fundraising struggles, pursues acquisition
Gigbanc is ceasing operations after three years due to tough fundraising conditions. The startup is in acquisition talks with an undisclosed Nigerian fintech infrastructure provider.
Nigerian startup FoodCourt suspends operations amid mounting debts
FoodCourt, a Nigerian cloud kitchen startup, has suspended operations amid financial pressures and unpaid salaries. The SEC has admitted GIGX Technologies and KuCoin Nigeria Limited into its Accelerated Regulatory Incubation Programme, granting them Approval-in-Principle.
Profitable FoodCourt laid off nearly 100 staff after process restructuring in May
Redesign of cooking processes led to nearly 100 redundancies in May 2024. FoodCourt aims to reduce meal preparation time to 20 minutes.
