Vancouver's Fintech Firm Bench Accounting Shuts Down Abruptly

​Bench Accounting, a Vancouver-based fintech firm providing bookkeeping services to small businesses, has abruptly closed its operations. As of December 27, 2024, the company's platform is no longer accessible, leaving thousands of businesses scrambling to find alternative services just before year-end.

The company's homepage issued a brief notice of closure, stating: "We regret to inform you that as of December 27, 2024, the Bench platform will no longer be accessible." The shutdown follows a sudden layoff of nearly 500 employees.

Founded in 2012, Bench raised over $100 million in venture funding, positioning itself as a leading bookkeeping service for small businesses across North America. Despite this growth, the company's sudden closure has caught customers and employees off guard.

The company has suggested that users transition to Kick, another bookkeeping service provider, offering an exclusive deal to Bench customers. The closure raises questions about the company's future, especially following a leadership change in 2021, when co-founder Ian Crosby departed after disagreements with the board over strategy.