Cake Group Information

Founded in Singapore on June 7, 2019, and led by Dr. Julian Hosp, Cake quickly established itself as one of Southeast Asia's fastest growing fintech companies, amassing close to one million users, over one billion USD in customer assets, and a team of 180 employees at its peak. In early December 2023, co-founder U-Zyn Chua unexpectedly filed for a winding-up application against the company. The Singapore Courts, however, dismissed his case in April 2024, exposing it as a shortcut to pressure negotiations. Despite the damage inflicted by this legal maneuver, Julian and the remaining team initiated a focused 90-day action plan. Through tight cost controls, strategic adjustments, and restructured operations, Cake managed to return to near cashflow neutrality. On December 11, 2024, GS Technologies Ltd, a publicly listed company on the London Stock Exchange, acquired the business. GS Technologies is a global technology company listed on the Main Market of the London Stock Exchange under the ticker, GST.