Investors of GoMechanic, which is laying off 70% of its staff, said they were "recently made aware by the company's founders of the serious inaccuracies in financial reporting." They added, "We're deeply distressed...that founders knowingly misstated facts." Founded in 2016 by Kushal Karwa, Amit Bhasin, Rishabh Karwa and Nitin Rana, GoMechanic is backed by investors like Sequoia and Tiger Global.