Osome provides online bookkeeping and accounting services that automate administrative work to allow companies to focus on growth, with particular focus on e-commerce businesses. The company serves over 13,000 small and medium-sized business customers and employs more than 400 staff across Singapore, Hong Kong, the UK, the Netherlands, the Philippines, and Malaysia. Leadership is led by CEO Victor Lysenko, COO Konstantin Lange, and CTO Anton Roslov. Osome raised $17M in a Series B composed of equity and debt to strengthen its balance sheet and accelerate the path to profitability. The company plans to continue investing in its product offerings, emphasizing acceleration of automation and artificial intelligence components, while also increasing investment in marketing, customer service, and go-to-market efforts. The funding round included participation from both new and existing investors. Osome provides financial administration services including payroll, accounting, tax reporting and business incorporation across Singapore, Hong Kong and the United Kingdom. It runs a hybrid service called the Accounting Factory that combines machine learning with full-time human accountants to collect, categorize and reconcile financial data. Over the last year Osome launched an accounting platform offering tax and financial reports, expense and invoice management, and integrates with e-commerce platforms like Amazon, eBay, Shopify, Lazada, Etsy and Shopee. The company currently serves more than 11,000 businesses and employs over 100 full-time accountants and bookkeepers. Revenues have doubled since its Series A in June 2021, and Osome plans to become cash-flow positive within the next 12 months. Part of the new funding will be used to expand operations in Asia by targeting side hustles and micro-entrepreneurs. Osome’s flagship product is an online accounting service that connects SMEs with chartered accountants and uses machine learning to automate tasks like document categorization, report and tax-return generation, and timely filings. The platform also offers corporate secretary services including business registration, compliance and taxation. The company has seen fast adoption among e-commerce companies and plans to add integrations with multiple e-commerce platforms and administrative services. Osome intends to launch more products and apps for the e-commerce sector over the next 18 months and will use the new funding for international expansion and product integrations. The startup is used by about 6,000 companies across Singapore, the United Kingdom and Hong Kong, reports $9.5 million in annual recurring revenue and is growing revenue 100% year-over-year. Osome employs around 200 people and emphasizes reducing the administrative burden on small-business owners. Osome offers a cloud-based service that helps entrepreneurs manage corporate paperwork and reporting, including accounting, taxation, company formation and filing reports. Its platform is available on desktop and mobile devices. The company uses AI-powered technology backed by human experts to answer clients’ requests around the clock, reportedly within 15 minutes. Osome is led by CEO and founder Victor Lysenko. The company has become a partner of 500 Startups’ Global Launch. It raised financing to support its growth and plans to expand into the UK and Hong Kong. Osome is a Singapore-based provider of business management solutions. The article identifies the company by its core offering but provides no further product detail. It reports that Osome raised $2 million in a funding round led by Target Global. The piece does not disclose other investors, the use of proceeds, or operating metrics such as revenue or user counts. Target Global is described as a Berlin-based venture capital firm with $800.5 million (€700 million) in assets under management. No additional financial or strategic plans were reported in the article.

Total raised

$63M

Funding rounds

6

Latest round

Series B

Latest activity

May 2024