Osome, a financial admin platform with headquarters in Singapore that aids entrepreneurs with administrative activities including payroll, accounting, and tax reporting, has announced the closing of a $25 million Series B round of funding to expand its operations in Singapore and Hong Kong.
Victor Lysenko, a businessman from Ukraine, founded Osome in 2017. Through a straightforward platform, user-friendly software, and a professional accountant to handle financial administration, Osome assists SMEs in setting up.
The firm uses machine learning and artificial intelligence technologies, along with the knowledge of human specialists, to address the issue of time-consuming administrative activities like payroll and secretarial labor. It hopes to upend the disjointed accounting and corporate services sector in this way.
Osome presently provides services to more than 11,000 enterprises in Singapore, Hong Kong, and the United Kingdom, where it has its headquarters. It also interfaces with e-commerce sites including Amazon, eBay, Shopify, Lazada, Etsy, and Shopee, as well as those in Singapore, Hong Kong, and the United Kingdom.
The startup has had a strong year of expansion. The startup's customer base in the UK has grown by 3.5 times, and it anticipates growing its London team in the upcoming year as the UK looks to side jobs and microbusinesses to spur economic growth.
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