Business finance platform Osome raises £20m Series B

Osome Series B Image credit: Osome

Osome, a financial admin platform aimed at small businesses, has raised $25m (£20.6m) in Series B capital.

The Osome platform allows small businesses to carry out tax and finance reports, expenses and manage invoices.

The fintech is headquartered in Singapore but is led from an office in Shoreditch, London where the CEO ‘resides’ and has 55 employees. Osome also has an office in Hong Kong.

Victor Lysenko, founder and CEO, Osome, said: “Our approach has always been to become profitable based on sound, sustainable financial growth. I’m much more of a fan of the sturdy baseball bat than the hockey stick.”

Before Osome, Lysenko founded RocketBank, which was later acquired by Qiwi in 2017.

Investors in the Osome Series B included the fintech VC fund AFG Partners and Illuminate Financial Management.

“Osome is addressing a central issue in back office management for entrepreneurs and SMEs globally, and in a short time has positioned itself as a market leader in a space that has significant growth potential,” said Ivan Ong, principal, AFG Partners.

According to the firm its financial service is used by more than 11,000 businesses and has raised a total of $51m (£41.9m).

Series B funds will be used to grow its London headcount next year.

Recently the UK and Singapore extended the UK-Singapore Financial Partnership.