In a shocking move, Bench Accounting, a Vancouver-based fintech company, has announced its sudden shutdown. The company, which provided online accounting and bookkeeping services to small businesses and entrepreneurs, has ceased operations effective immediately.

According to reports, Bench Accounting’s CEO, Jean-Philippe Durrios, made the announcement to employees and customers, citing unforeseen circumstances as the reason for the shutdown. The company’s website and social media channels have been taken down, and customers have been left scrambling to find alternative accounting solutions.

Bench Accounting was founded in 2012 and had gained a reputation as a innovative and user-friendly accounting platform. The company had raised significant funding from investors and had expanded its services to thousands of customers across North America.

The sudden shutdown has left many in the fintech community stunned, with many taking to social media to express their surprise and disappointment. “Bench Accounting was a pioneer in the online accounting space, and their shutdown is a significant loss for the industry,” said one industry expert.

The shutdown of Bench Accounting raises questions about the stability and reliability of fintech companies, particularly those that provide critical services such as accounting and bookkeeping. As the industry continues to evolve, it is likely that we will see increased scrutiny and regulation of fintech companies to ensure that they are operating in a responsible and sustainable manner.

In the meantime, customers of Bench Accounting are advised to seek alternative accounting solutions and to reach out to their financial institutions for guidance. The shutdown of Bench Accounting serves as a reminder of the importance of having a contingency plan in place and of being prepared for unexpected disruptions in the fintech industry.