AFG Partners, Winter Capital, and Illuminate Financial are among the investors who contributed to the $25 million round B fundraising for Osome, an AI-powered firm that wants to automate corporate administration.
Osome was started in 2018 by CEO Victor Lysenko, who was also a co-founder of Rocketbank and Darberry (now Groupon).
Through its AI-enabled platform, it offers SMEs accounting, reporting, company creation, and other business management services.
The company interfaces with a number of e-commerce platforms, including Shopify, Lazada, Esty, and Shopee.
According to Osome, since November 2019, its income has doubled, and its client base has increased by double since 2021. The company claimed to have assisted 11,000 business openings thus far.
Specifically, in the city-state of Singapore and Hong Kong, the Singapore-based company intends to use the new funds to grow its operations in Asia.
“Small businesses spend billions of dollars on accounting, but accounting software doesn’t give them what they need – expert advice. Only 2% of this spend is on accounting software – I’m interested in improving the 98% – the most exciting opportunity is on the human side,” said Lysenko. Target Global, a global venture capital firm, sponsored a round in which Osome secured $3 million in the US in November 2019.
