Singapore-based Osome, which provides AI-powered business administration services, just raised US$3 million.
The funding round sees a returning lead investor, Target Global, which also led Osome’s US$2 million seed funding round last year.
Founded by Victor Lysenko and Konstantin Lange, Osome helps entrepreneurs set up and manage their businesses more efficiently by automating functions like company incorporation, accounting, payroll, taxation and secretarial services.
The firm uses bots to help users perform these tasks, while users only need to text a chatbot and tell it what to do.
Its cloud-based service is available 24/7 on mobile and desktop, and can always give responses within 15 minutes.
The founders invested slightly over US$1 million to develop and launch the Osome app in January 2018.
When Vulcan Post wrote about the startup in July 2018, Lysenko said the company was then growing at a rate of 30% per month.
With its new funds today, Osome plans to expand to Hong Kong and the United Kingdom (UK).
Lysenko said the firm has been encouraged the by support of “thousands of enthusiastic SME clients in Singapore”, which gives them confidence that they will be “solving a real problem for [their] customers, wherever they are located”.
Osome has also joined Global Launch, a joint programme by Enterprise Singapore and 500 Startups that aims to help Singapore companies expand to the US, and global companies expand to Singapore.
Osome will be providing its services to help global firms set up their operations in Singapore.
Featured Image Credit: Osome