Osome, a Singapore-based finance admin platform for founders and small and medium businesses (SMBs), has closed its Series B funding round with more than $17m in a mix of equity and debt.
The new capital is raised from new and existing investors.
Established in 2017, Osome offers accounting, compliance, company secretary incorporation, and various value-added services to SMBs in Singapore, Hong Kong SAR and the UK.
The firm also provides a full-fledged service that brings together software and the expertise of accountants, tax specialists, and corporate secretaries.
Osome plans to use the new funding to bolster the balance sheet with a key objective to expedite the path to profitability.
The Singaporean fintech firm also aims to reinforce its founding mission of delivering new solutions that address the core financial challenges faced by modern businesses.
Besides, the company will invest in its product offerings to better emphasise the expedition of automation and artificial intelligence (AI) components to better cater its expanding customer base.
The new capital will also enable Osome to invest in marketing and customer service and accelerate its go-to-market initiatives.
Osome chief operation officer and co-founder Konstantin Lange said: “2023 has been a challenging year; it was not without its growth pains. We saw a period where customer revenue was growing faster and faster, which forced us to realign ourselves as an organisation to deliver positive experiences to our client partners.
“All things considered, we’re pleased to have emerged from the year bigger, stronger, and better, with a renewed push towards profitability and sustainability. We could not have done this without the trust and support of our customers, team members, and investors who view Osome as a trusted partner to help them grow their businesses.”
