Fintech firm GoBear has reportedly had a shuffle with two of cofounders stepping down, and the company having to shut its Indonesian comparison business. In a statement to Marketing, GoBear CEO Adrian Chng confirmed that the company did recently make changes within the organisation. He added that such changes are not uncommon for a growth stage company in a rapidly evolving marketplace.
As for its Indonesian operations, he said GoBear’ shifting from to a content model to drive financial education locally. He said, “GoBear’s purpose is to improve financial health across Asia Pacific. Financial literacy is a key challenge in Indonesia and GoBear’s online presence within this market is shifting to a content model to drive critical financial education.”
Meanwhile, the company is said to be focusing 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,” he said. The company was launched in early 2015, and offers over 1,800 financial products such as travel, health and car insurance, credit cards, and personal loans. It has a presence in markets such as Singapore, Hong Kong, Malaysia, the Philippines, Thailand, and Vietnam, with Indonesia taking off a year ago.