S’pore Startup GoBear’s Brand Acquired By Australian Fintech Firm Finder
Earlier in January, Singapore-based financial services start-up GoBear suddenly announced it was going out of business.
He cited the inability to raise additional funds from existing or new investors as the main reason for the shutdown, adding that the COVID-19 pandemic has made the operational and fundraising environment “very difficult”.
Other factors included a prolonged period of weakening demand for certain financial products and services, particularly travel insurance.
It is reported today (April 8) that Australian fintech Finder has purchased the GoBear brand, including its brand and digital assets. These digital assets include GoBear’s domains, website content and social media channels in its seven markets.
Following the acquisition, content from GoBear’s website will be integrated into Finder. Frank Restuccia, Founder and CEO of Finder, shared in an interview with Mumbrella that GoBear has already developed “thousands of guides and educational materials,” which are aligned with how Finder approaches comparison.
However, GoBear’s social networks and messaging channels will remain independent.
In a press release, Finder also said that there is good alignment between the two brands and that the acquisition may help further strengthen its presence in Singapore.
“Like GoBear, Finder is committed to helping customers improve their financial well-being and our mission is to help people around the world make better money decisions every day. We want to continue to honor GoBear’s vision and are proud to continue serving the people of Southeast Asia, ”he added.
Founded in 2006 in Sydney, Finder helps people make better financial decisions by comparing different financial products. It compares over 200 different verticals ranging from personal finance products like credit cards, home loans, and savings accounts to online shopping, cryptocurrency, and stock trading.
It currently has offices in Australia, the United States, the United Kingdom, Canada, Poland and the Philippines, and claims to serve over 10 million consumers in over 80 countries each month.
Featured Image Credit: GoBear / Vulcan Post
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