Vehicle-sharing firm Togo has become the latest Chinese sharing platform to face problems regarding the repayment of user deposits. With customers in Beijing, Shenzhen and Chengdu all reporting complaints about delays in receiving their CNY1,500 ($218), the company has joined a growing list of firms in the sharing economy that have faced cash flow issues. Togo previously announced it had secured tens of millions of dollars in investment following a round of funding in recent years.
Vehicle-sharing firm Togo has become the latest Chinese sharing platform to face problems regarding the repayment of user deposits. With customers in Beijing, Shenzhen and Chengdu all reporting complaints about delays in receiving their CNY1,500 ($218), the company has joined a growing list of firms in the sharing economy that have faced cash flow issues. Togo previously announced it had secured tens of millions of dollars in investment following a round of funding in October.