Singapore-based startup Sleek has secured US$4 million in fresh funding from a clutch of investors, led by SEEDS Capital, the investment arm of Enterprise Singapore.
Other co-investors are MI8 Limited, a Hong-Kong multi-family office, and Pierre Lorinet.
The three-year-old company will use the money to expand into new markets in Asia and further enhance its digital tools.
“With the new funding, we will launch more platform functionalities and new business verticals shortly to enhance the overall customer experience. Ultimately, we envision Sleek to be the go-to digital platform for all entrepreneurs setting up in Singapore, Hong Kong, and beyond,” said Co-founder Julien Labruyere.
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Founded by Labruyere and Adrien Barthel, Sleek is a platform that incorporates and manages companies with simple and efficient online tools. Its services include digital incorporation, company secretary, tax filing and accounting services.
“Sleek’s innovative digitally-enabled solutions are well-positioned to disrupt traditional corporate secretarial services, allowing entrepreneurs to spend more time creating value for their companies and customers, and less on administrative back-office tasks,” said Geoffrey Yeo, General Manager of SEEDS Capital.
“We see new opportunities created by the accelerated pace of digitisation of business and processes amidst the pandemic, and are excited to support Sleek in their journey to introduce next-generation corporate and financial services to small and growing enterprises,” Yeo noted.
The firm claims that it currently manages a portfolio of more than 3,000 companies with almost US$10 million in cash Annual Recurring Revenue (ARR). It reached operating financial breakeven a few months ago.
Digital incorporation of companies is a concept that is popular in countries such as Singapore, Hong Kong, New Zealand, Estonia and many more due to their relatively simple, digital and streamlined process for company incorporation.
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Other startups operate in the sector include Lanturn, BlueMeg and Osome.
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