Target Global, an international Venture Capital firm, led the funding round (Series B) of Osome, a Singapore-based FinTech startup. Phystech Ventures and AdFirst also joined.
Founded in 2018, Osome is an online service for small and medium-sized businesses and deals with accounting, incorporation, taxes and other administrative tasks.
Osome uses artificial intelligence to efficiently address routine tasks, while chartered accountants focus on the issues that require tailored approach.
Osome has mobile and desktop applications that allow you to access the papers and the message threads. Osome team works with clients using a special secure chat optimized for convenient documents sending and their storage, as well as for communication with specialists who respond to requests 24/7.
The Series B funding will be used to further expand into new markets, the United Kingdom and Hong Kong.
Victor Lysenko, Osome CEO and founder, said that thousands of customers who are satisfied with Osome’s services have made it clear that the problems that companies and entrepreneurs face are common among any market worldwide. Osome’s mission is to help solve real problems in new markets. “We are also very grateful that our investors and partners recognize Osome’s potential and support our growth,” says Victor Lysenko.
Target Global, a major international venture capital firm headquartered in Berlin, invests in fast-growing technology companies with the expectation that these companies become market leaders.
“Osome deals with the biggest pain of entrepreneurs and business owners such as paperwork, accounting and tax issues that can now be transferred to the company’s virtual assistant. We’ve been investors since pre-seed stage and have witnessed outstanding growth in Singapore. As the problem is significant and truly international, we expect the new markets to bring additional growth”, says Olga Shikhantsova, Associate at Target Global, who is focused on the firm’s FinTech investments.
“Osome directly attacks the major administrative hurdles faced by micro to small to medium-sized enterprises providing fast, efficient and mainly automated service to help South East Asian entrepreneurs focus on what they do best — scaling their businesses and increasing their impact. The company’s exponential growth in Singapore both in terms of revenue and customer base validates the business model and represents a solid ground for further growth both inside and outside of the region, “ says Olga Maslikhova, Partner at Phystech Ventures.