Accounting Software Provider Osome Raised $16M

Osome, a Singapore-based producer of accounting software that describes its business as handling “all the routine tasks” for entrepreneurs, announced it raised $16 million in a Series A funding round.

“The fresh amount of capital enables the 3-year-old super-app that digitizes accounting and compliance services for SMEs to expand globally and fuel its plan for more product integrations,” a post on the company’s in-house blog states.

“Back-office operations are annoying, tedious yet mission-critical for businesses, especially for SMEs,” Victor Lysenko, cofounder and chief executive of Osome, said in a prepared statement. “Remarkably, an average entrepreneur spends 68 percent of their time dealing with routine tasks vs 32 percent strategizing and delivering on their long-term goals. Osome combines artificial intelligence software with operational excellence to (allow) strategizing and delivering on their long-term goals.”

The company states

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