Osome, the leading financial management platform for founders and small and medium-sized businesses (SMBs), has successfully closed its Series B funding round, securing over $17 million in capital.
The combination of equity and debt funding will be raised from both new and existing investors.
With significant commercial growth, Osome currently serves more than 13,000 SME customers and employs 400 people across several regions including Singapore, Hong Kong SAR, the United Kingdom, the Netherlands, the Philippines and Malaysia. We employ more than 10,000 staff members. In the past year alone, the company has helped her launch more than 2,500 new companies.
This funding will support Osome's efforts to further its mission of providing innovative financial solutions. The company aims to enhance its services by integrating more automation and artificial intelligence (AI) components, thereby streamlining accounting, financial compliance, and other repetitive business tasks. These improvements are expected to drive sustainable growth and profitability in 2024.
Victor Lysenko, CEO and co-founder of Osome, highlighted the impact of the current economic climate on entrepreneurship. He said: “Osome was founded to support and champion the needs of entrepreneurs and help turn their ideas into reality. Asian Companies have implemented mass layoffs, the employment environment has become even more difficult, and the winter of fundraising has arrived.
“This means individuals are turning to entrepreneurship in record numbers.” Osomeh believes the current recession will encourage more founders and entrepreneurs to run their own businesses. I truly believe that it helped me realize that dream, and that's what we're here for.”
The company is also focused on enhancing its marketing and customer service to better support its growing customer base. Additionally, Osome plans to accelerate its go-to-market strategy to reach more small and medium-sized businesses around the world.
Constantine Lange, COO and co-founder, noted the challenges faced over the past year and the company's resilience. He said: “2023 was a challenging year. It was not without growing pains. We went through a period of increasingly rapid growth in customer revenue. We had to recalibrate as an organization to deliver.
“All things considered, we are delighted to be heading into a bigger, stronger and better year as we move forward towards profitability and sustainability. We trust Osome to help us grow our business. We could not have achieved this without the trust and support of our customers, team members, and investors, who we consider to be our valued partners.”
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