Sleek, a platform offering incorporation and accounting services for SMEs and entrepreneurs, has announced it achieved profitability in Singapore during the second quarter of 2024.
The company also secured US$5 million in debt financing from the Singapore-based Fintech Nation Fund to support its ongoing expansion.
Sleek, now in its seventh year of operation, highlighted that the funding will fuel growth across its markets in Singapore, Hong Kong, Australia, and the UK.
The company simplifies business management through a digital platform that handles company incorporation, accounting, tax, payroll, and more, helping entrepreneurs manage their back-office operations efficiently.
Sleek currently serves over 15,000 businesses worldwide and aims to continue expanding its customer base while enhancing its services through its in-house technology solutions.
The platform saw a 30% increase in its client base over the past year without increasing headcount, which it credits to its technology-driven approach.
Sleek’s proprietary tools, including SleekSign and Sleek Receipts, have played a key role in streamlining services for clients, enabling them to process millions of transactions and support businesses generating over US$5 billion in revenue.
Julien Labruyere, Co-founder of Sleek said,
“We’re thrilled to partner with Fintech Nation Fund and secure our first debt financing round. This investment will accelerate our growth in a sustainable way, just as we’ve done over the past seven years.
Achieving 30% year-on-year growth while reducing cash burn and improving customer satisfaction has been key to our success, and we’re ready to take things to the next level.”
Vanessa Ho, Co-Founder of Fintech Nation Fund, added,
“In today’s challenging economic climate, businesses like Sleek are proving that sustainable growth is possible with the right approach. We’re proud to support Sleek in this exciting phase of its journey.
Sleek’s innovative approach to back-office operations for SMEs is the kind of forward-thinking solution we love to invest in. We’re excited to see how Sleek’s next chapter unfolds.”
Featured image credit: Edited from Freepik
