Only one of four founders remain at the Singapore-based personal finance metasearch engine.
GoBear founder Adrian Chng has confirmed that chief technology officer Ivonne Bojoh and chief commercial officer Marnix Zwart – two of the firm's four founders – have left the company by mutual agreement.
«Such decisions are never taken lightly, but are not uncommon for a growth stage company in a rapidly changing marketplace,» Chng said in a statement.
Earlier in the day, «The Business Times» (behind paywall) reported that the firm would be shutting down its business in Indonesia – a market it had entered only a year ago. However, a representative for the firm told finews.asia the Indonesia office «remains open for business.»
Asia Pacific Operations Continue
«GoBear is continuing to focus on long-term growth in Asia Pacific, following successful funding rounds. We are actively expanding our operations across the region and are committed to achieving our mission of improving financial health,» said Chng, who took over from former CEO Andre Hesselink when he left GoBear in July 2018.
GoBear launched in its home market of Singapore in 2015, offering insurance and a range of personal finance products from over 100 partners. The platform expanded to Hong Kong, the Philippines, Malaysia, Vietnam, Thailand and Indonesia.
Its most recent funding round in May saw it raise $30 million from Dutch venture capital fund Walvis and insurer Aegon, bringing its total external capital to $80 million.
