GoBear CEO Adrian Chng
Singapore-based financial comparison platform GoBear announced that it has bid farewell to two of its co-founders, Chief Technology Officer Ivonne Bojoh and Chief Commercial Officer Marnix Zwart.
The official statement from the company said that the decision was based on a mutual agreement. “We can confirm that GoBear has recently made changes within the organisation. Such decisions are never taken lightly, but are not uncommon for a growth stage company in a rapidly changing marketplace,” CEO Adrian Chng quoted saying.
Chng then continued: “GoBear is continuing to focus on long-term growth in Asia Pacific, following our funding rounds. We are actively expanding our operations across the region and are committed to achieving our mission of improving financial health.”
Aside from parting ways with co-founders, DealStreetAsia also reported that GoBear is also understood to be shutting down its Indonesian arm after just a year of operations.
However, in an interview with DailySocial, Country Director GoBear Indonesia Tris Rasika has denied the rumour.
“GoBear is committed to continue our mission in improving the public’a financial health through literacy, something that’s in line with GoBear FHI, launched in October,” said Rasika.
GoBear was founded in 2015 by four co-founders, and now only run by one of the originals, Chief Financial Officer Frank Stevenaar. Andre Hesselink, GoBear’s former chief executive, and Co-founder left the company last year in July, making Adrian Chng the acting GoBear’s CEO.
Also Read: Having raised US$80M in total funding, GoBear aims to foster new partnerships
GoBear provides a variety of lists of products across loans, credit cards and insurance on its platform. It claimed to have over 40 million users in Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
GoBear raised over US$30 million in early 2019, bringing its total external capital to US$80 million. The two notable backers of its cap table are Dutch venture capital fund Walvis Participaties and financial services provider Aegon N.V.
The fund that they raised was used to develop its product and technology that includes improving the platform’s search and match function, expand its partner network, and fill key roles. The company also used the funding to make investments into relevant technology companies.
–
The post [Updated] Financial comparison site GoBear parts way with two of its co-founders, stating mutual agreement in growth stage appeared first on e27.