Finance Admin Platform Osome Raises $17m in Series B Funding

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Osome
Victor Lysenko Osome CEO and Founder

Osome, a leading finance admin platform for founders and small and medium businesses (SMBs), today announced it has concluded its Series B funding round with over US$17 million in capital in a mix of equity and debt, from new and existing investors.

Osome has seen commercial growth, serving over 13,000 small and medium-sized business (SMB) customers and employing over 400 staff across Singapore, Hong Kong, the UK, the Netherlands, the Philippines, and Malaysia. It helped over 2,500 new businesses go to market in 2023 alone.

The company has grown its 2023 revenues while decreasing its burn rate, charting a clear path towards profitability.

The surge of new Osome customers underscores the market’s increasing recognition of Osome’s innovative solutions in streamlining accounting, financial compliance, and other repetitive business tasks that can be automated in the next wave of innovation.

With new funding and a clearer path to sustainable growth and profitability in 2024, Osome will double down on its founding mission of providing innovative solutions that address the core financial challenges faced by modern businesses.

It continues to invest in its product offerings, further emphasising the acceleration of automation and artificial intelligence (AI) components to serve its expanding customer base more efficiently. It also helps Osome invest in marketing and customer service and accelerate its go-to-market efforts.

Victor Lysenko, CEO and Co-founder of Osome, sees the current economic landscape with fewer openings and record layoff numbers as a catalyst for entrepreneurship. He said: “Osome was founded to support and champion the needs of entrepreneurs, to help them see their ideas come to life.

Anton Roslov, the Chief Technology Officer and Founder, said: “Artificial intelligence will increase the customer experience and accelerate automation and integration of Osome’s services in line with Osome’s vision to become entrepreneurs’ leading financial operating system. Osome’s next growth stage is focused on profitability and operational excellence while continuing to provide high-quality services and innovation to its clients.”

Business-News-Asia.com