Quiet closure with no public announcement · Fatal mistake: ASFI supervised 12 banks in Bolivia; government-owned BNB and Banco Unión controlled 60% of deposits and bought technology through state procurement; no viable market
Evaluating only RegBO’s profile at its peak — without knowing the outcome — the model ranked Market too small as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
FUNDING
MILESTONE
CRISIS
SHUTDOWN
Full Analysis
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Documented cause
RegBO built ASFI regulatory compliance for Bolivia's 12 supervised banks. Government-owned BNB and Banco Unión controlled 60% of deposits and used state procurement processes incompatible with startup sales cycles. The 10 private banks were small enough to use personal IT relationships. RegBO reached 1 pilot and dissolved.
Lesson
“RegTech in Bolivia must target the cooperative financial sector (cooperativas financieras) — 70+ cooperatives are regulated by ASFI but outside the government and personal IT ecosystems.”
Failure anatomy
Collapse type
Silent Shutdown
🐌 LOW
Hype cycle
None
Moat type
Technology
Fatal mistake
ASFI supervised 12 banks in Bolivia; government-owned BNB and Banco Unión controlled 60% of deposits and bought technology through state procurement; no viable market