Vietnamese startup WeFit files for bankruptcy.

The company had run out of cash.

Alfred Lee13 May, 2020

Vietnamese startup WeFit files for bankruptcy.

Vietnamese startup, WeWow, most notably known for their ClassPass-like service, WeFit, has filed for bankruptcy as the business runs out of cash due to the effects of the pandemic.

In a statement to its customers, WeFit's parent company WeWow mentions that they will be closing down all their services effective immediately.

"Our working capital is completely depleted. Therefore, we are unable to maintain our business and products", the company said in its statement.
The WeFit official website.

Prior to the pandemic, WeWow was handling approximately 150,000 bookings per month on their platform.

The company had also previously raised US$1 million in a pre-series A round led by CyberAgent Capital and other venture capital firms in the region in January last year.

Alfred LeeAuthor

Journalist at BEAMSTART. I write about breaking business news in the region.

Share this Story

More Stories

BEAMSTART News covers the latest stories on Business, Finance, and Opportunities in Asia. We are an extension of global partnerships platform BEAMSTART.

Stay updated with us via our channels below:


Download the App

Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved.