Singapore-based Osome, which has developed an accounting and company compliance app for small and medium enterprises (SMEs), has raked in US$25 million in a Sequence B spherical from traders reminiscent of Illuminate Monetary, AFG Companions, and Winter Capital.
The agency plans to increase its Asia operations, primarily in Singapore and Hong Kong.
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This announcement comes as Singaporean banking big OCBC has launched a digital banking partnership with Osome to present companies a one-stop store for his or her monetary wants.
Established by Ukrainian Victor Lysenko (who based RocketBank and offered to fee supplier Qiwi in 2017), Osome helps SMEs arrange by means of a easy platform with easy-to-use software program and an knowledgeable accountant to maintain monetary admin.
It leverages Synthetic Intelligence and Machine Studying methods, mixed with the expertise of human specialists, to resolve the issue of time-consuming administrative duties, reminiscent of payroll and secretarial work. This manner, it goals to disrupt the fragmented accounting and company companies business.
Osome claims it has seen revenues double since its earlier increase.
This 12 months, the corporate launched a complete accounting platform to enrich its accountant supply.
Additionally Learn: Fintech startup Osome snags US$3M funding led by Goal International, making ready Hong Kong’s, UK’s enlargement
Osome now integrates with eight e-commerce platforms: Amazon, eBay, Shopify, Lazada, Esty, Shopee, Sq., and Wix.
Ivan Ong, Principal at Osome investor AFG Companions, commented: “Osome is addressing a central challenge in again workplace administration for entrepreneurs and SMEs globally. In a short while, it has positioned itself as a market chief in an area that has vital development potential.”
In June 2021, Osome secured US$16 million in Sequence A funding from Goal International (Berlin), AltaIR Capital, Phystech Ventures, S16VC, and Peng T. Ong of Monk’s Hill Ventures.
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