
GoBear’s Closure Comes As A Shock But Will Unlikely Leave A Dent In S’pore’s Finance Industry
GoBear cited the failure to raise additional funds from existing or new investors as the primary reason for closure.
GoBear cited the failure to raise additional funds from existing or new investors as the primary reason for closure.
Five-year-old startup GoBear said that the COVID-19 pandemic made the operating and fundraising environment "very challenging".
GoBear makes financial comparisons easy as it enables the comparison of insurance, credit cards and loans on a single platform.
GoBear raised US$17M at the peak of the pandemic but retrenched 22 employees. The decision was not made lightly, according to GoBear CEO Adrian Chng.
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