Singapore’s Osome raises $25m in Series B funding
Osome, a financial admin platform for small businesses, has secured $25 million in a Series B funding round which saw participation from Illuminate Financial, AFG Partners and Winter Capital.
Osome lands $25m Series B
Founded in 2018, Osome uses machine learning to help businesses automate accounting and tasks such as payroll and tax reporting. The firm also offers incorporation and corporate secretary services.
Headquartered in Singapore, the fintech start-up also has offices in London, Hong Kong and Kuala Lumpur and employs more than 200 staff.
With the fresh funding, Osome plans on expanding its operations in Asia as well as the UK, where it aims to hire more people in the new year and extend its focus to include “side hustles” and micro-businesses.
Osome last raised $16 million in a Series A funding round in June 2021 and claims its revenues have doubled since then. The start-up now serves more than 11,000 customers across its locations.
“Small businesses spend billions of dollars on accounting, but accounting software doesn’t give them what they need – expert advice,” says Victor Lysenko, founder of Osome. “Our plan is to be the largest provider of hybrid accounting services in the world.”
The start-up also recently announced a digital banking partnership with Singapore’s OCBC Bank, allowing businesses to open bank accounts digitally.
