Marasoft, the Nigerian fintech based by Emmanuel Marakwe-Ogu, has denied allegations that it paid staff with suspected fraudulent funds however declined to offer specifics, citing non-disclosure agreements.
TechCabal first reported the claims on January 25, primarily based on interviews with 10 former staff and Flutterwave, the pockets supplier from which the funds had been allegedly transferred.
Marasoft offered no proof to again its refutation and attributed the allegations to “disgruntled former staff” spreading “false info.”
In an interview with TechCabal, the corporate declined to make clear or present documentation to help its denials. The corporate’s spokesperson claimed the allegations resulted from private grievances however didn’t reply questions on claims that it drew $54,000 from a pockets following a glitch and used that cash to pay employees salaries.
Former staff advised TechCabal that their financial institution accounts stay blocked attributable to suspected fraudulent funds, and paperwork seen by TechCabal present that their salaries had been “traced to a fraudulent service provider.”
The corporate additionally denied claims that it paused its operations and stated it lowered its workforce by 25% in January attributable to “financial causes.” Nevertheless, paperwork obtained by TechCabal from two former staff indicated that the startup paused operations.
“We’re excited to announce that Marasoft Pay will probably be resuming full operations within the coming days. Nevertheless, it’s essential to notice that we’ll be transferring ahead with a streamlined workforce, specializing in the roles which might be important to our subsequent part of progress,” learn a letter despatched to staff on January 6, 2025.
The corporate additionally denied involvement in a 2022 Kenyan courtroom case that named Marasoft as one of many fintechs that deposited over $55 million into Flutterwave, regardless of publicly accessible courtroom paperwork that identify the corporate. Marasoft’s spokesperson dismissed the courtroom paperwork.
Regardless of Marasoft’s continued denials, former staff stand by their claims, offering paperwork to help the allegations. Whereas TechCabal has not independently verified the authenticity of those supplies, the consistency of former staff’ testimonies and the dearth of considerable proof from Marasoft elevate questions in regards to the firm’s transparency.
