Fintech
Osome will focus on automation and artificial intelligence with new $17 million funding
Of Fintech News Singapore
May 20, 2024
Osome, a financial administration platform for small and medium-sized businesses (SMBs), announced the completion of its Series B funding round, raising more than $17 million in a combination of equity and debt. This funding came from both new and existing investors.
With this new financing Osome aims to improve its product offerings, focusing on automation and artificial intelligence (AI) to better serve its expanding customer base.
The investment will also support marketing and customer service and accelerate its go-to-market strategies.
Osome offers solutions to streamline accounting, financial compliance and other automatable business tasks.
The company currently serves over 13,000 SME customers and employs more than 400 people across Singapore, Hong Kong SAR, the United Kingdom, the Netherlands, the Philippines and Malaysia.
In 2023 alone, Osome claims to have helped over 2,500 new businesses enter the market.
Osome reported that it increased its revenue in 2023 while reducing its burn rate, showing a clear path to profitability.
Victor Lysenko
Victor Lysenko, CEO and co-founder of Osome, said:
“Osome was founded to support and advocate for the needs of entrepreneurs, to help them see their ideas come to life. Asia is seeing a winter of financing, with companies carrying out mass layoffs and a much more challenging work environment.
This means we are seeing record numbers of individuals turning to entrepreneurship. Osome truly believes that the current recession has pushed more founders and entrepreneurs to realize the dream of running their own business, and that is why we are here.”
Anton Roslov
Anton Roslov, Chief Technology Officer and founder, said:
“AI will enhance the customer experience and accelerate the automation and integration of Osome’s services in line with Osome’s vision to become the leading financial operating system for entrepreneurs.
Osome’s next phase of growth will focus on profitability and operational excellence, while continuing to provide high-quality service and innovation to its customers.”
Featured image credit: Edited by Freepik
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