React Native Web: After ejecting web doesn't work

I’ve just tried to eject my RN expo app, because I want to add in app payments for android and iOS. However, the app crashes on web giving the following error:

funcError: Element type is invalid: expected a string (for built-in components) or a class/function (for composite components) but got: object. Check the render method of ExpoRootComponent. “registerRootComponent.web”

SDK version: 38
Platforms: All

So, in the managed workflow the web version works fine, but not in the bare workflow. Steps to reproduce:

  1. Create new app
  2. Add react-native-web
  3. Eject to bare workflow
  4. Try to start app