Nigerian crypto-based fintech company Lazerpay is shutting down operations after unsuccessful fundraising attempts, 9news Nigeria reports.

In a statement issued via its official Twitter handle on Thursday, the CEO, Njoku Emmanuel, said Lazerpay ceased operations after multiple futile efforts to raise funds for the business’s survival.

Lazerpay Founder and CEO Emmanuel Njoku, in the tweet, said: “Today, we announce the difficult decision to cease operations at Lazerpay. Despite our team’s tireless efforts to secure the necessary funding to keep Lazerpay going, we were unable to close a successful fundraising round.

We fought hard to keep the lights on as long as possible, but unfortunately, we are now at a point where we need to shut down.”