Fintech startup Osome snags US$3M funding led by Target Global, preparing Hong Kong’s, UK’s expansion
Singapore-based fintech-as-a-service, digital-admin solution Osome announces that it has received US$3 million funding led by Target Global, an international investment firm headquartered in Berlin, with participation from Phystech Venture and AdFirst.
The company said that the new round follows a US$2 million investment secured last December.
With the fresh funding, Osome said it plans to scale operations to enter the UK and Hong Kong.
Launched in 2018, Osome digitises the traditional corporate management industry with its cloud-based paperless service that helps entrepreneurs to manage their corporate paperwork and reporting. It assists in accounting, taxation, company formation, and filing reports via an online platform that also serves as reminders for the clients when reports are due or if something is missing.
The AI-powered technology backed by human experts assists the answering of the clients’ requests around the clock and within 15 minutes, even late at night and on the weekends.
The company was founded in January 2018 by Victor Lysenko who previously co-founded Rocketbank and Darberry (now Groupon).
With the platform’s approach on desktop or mobile devices, it spares the need to call or visit the office for admin employees.
“With the support of enthusiastic SME clients in Singapore, we decided to launch in Hong Kong and the UK. We are also very grateful that our investors and partners recognise Osome’s potential and support our growth,” said Victor Lysenko, Osome CEO, and founder.
“Osome deals with the biggest pain of entrepreneurs and business owners such as paperwork, bookkeeping and tax issues that can now be transferred to the company’s virtual assistant. As the problem is significant and truly international, we expect the new markets to bring additional growth,” said Olga Shikhantsova, Associate at Target Global.
Osome also announces that it has become a partner of the 500 Startups’ Global Launch.