Clinkle, A Buzzy Payments Startup That Hasn't Even Launched Yet, Has Laid Off 25% Of Its Staff

Clinkle, a stealth payments startup buzzy for raising the largest seed round in Silicon Valley history, has laid off about 25% of its staff, according to Fortune.

Earlier this year, we counted about 19 employees who had already left Clinkle-including two who dished some major dirt on the company and it's very young founder, Lucas Duplan.

Although the names of the 16 employees hasn't been released, Fortune reports that they largely come from the business, rather than the engineering side.

Two months ago, Clinkle hired Netflix CFO Barry McCarthy as its COO, and he told Fortune that the layoffs do not reflect troubles within the company.

"Some young people are leaving, and some very reasoned executives are joining," he said. "It's reasonable to assume that these execs wouldn't be joining if something was chronically wrong or broken."

Clinkle reportedly plans to launch its product on college campuses early next year.