Fintech firm Osome raised $17 M Series B funding from current and new investors

With over $17 million in capital from both new and existing investors, Osome, a finance administration platform for small and medium-sized businesses (SMBs) based in Singapore, announced on Friday that it had completed its Series B funding round.

With additional funding and a more defined route to long-term growth and profitability by 2024, Osome said in a statement that the company will continue to focus on its original goal of offering creative solutions to the fundamental financial problems that face contemporary companies.

According to the statement, it is still making investments in its product line, with a focus on accelerating automation and artificial intelligence (AI) components to better serve its growing customer base.

Additionally, it expedites the company’s go-to-market initiatives and helps it invest in marketing and customer support.

Osome’s CEO and co-founder, Victor Lysenko, views the current state of the economy, which includes record-high layoffs and fewer job openings, as a stimulus for entrepreneurship.

“Osome was founded to support and champion the needs of entrepreneurs, to help them see their ideas come to life. Asia’s seeing a funding winter, with companies carrying out mass layoff exercises and a much more challenging job environment,

“This means we’re seeing a record number of individuals turning to entrepreneurship. Osome truly believes the current downturn has catalyzed more founders and entrepreneurs to realize their dreams of running their own businesses, and that’s what we are here for,” he added.

Osome is a pioneering fintech company whose services for incorporation, accounting, and compliance are aimed at SMBs.

The company helps business owners and entrepreneurs launch and grow their enterprises.

For SMBs, it offers a variety of value-added services including accounting, incorporation, compliance, company secretary, and more.

Osome also offers a comprehensive service that incorporates the knowledge of corporate secretaries, tax experts, and accountants with software.

Victor Lysenko, Anton Roslov, and Konstantin Lange founded the company in 2017.

With over 400 employees working across Singapore, Hong Kong, the UK, the Netherlands, the Philippines, and Malaysia, it has experienced commercial growth, serving over 13,000 SMB clients.