FINANCIAL SERVICES | Staff Reporter, Philippines

Fintech GoBear shuts down

It has been facing difficulties in raising more funding.

Singapore-based financial platform GoBear is shutting down, citing difficulties in raising more funding, according to a statement.

It will begin the process of closing the business, it added.

In September 2020, the firm laid off 22 employees across its offices in Singapore, Vietnam, Philippines, and Ukraine.

"It’s been quite a ride with the opening of new markets, launching new products, and building our financial services and data platform one step at a time. We had amazing employees, partners, vendors, and fans along the way that made our accomplishments possible," the firm said.

Photo courtesy of GoBear Facebook page.

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