India, May 8 -- Bengaluru-based fintech startup Simpl has undergone another round of restructuring, its second in the past year. The Valar Ventures-backed startup has laid off around 100 employees, Inc42 has learnt from sources.

The layoffs, which were announced earlier in the day, have impacted employees across teams and verticals. In a town hall announcement, Nitya Sharma, the CEO and cofounder revealed the decision to undertake the restructuring exercise.

In a statement to Inc42, Simpl confirmed the restructuring exercise but did not disclose the total number of employees impacted.

"As an organisation committed to creating a shared value for our merchants, and millions of customers across the country, we have undertaken a series of ...