Sleek Extends Series A Funding Round to US$25 Millionby Fintech News Singapore December 17, 2021
Sleek, a platform providing incorporation and accounting services for SMEs and entrepreneurs, announced that it has extended its Series A round to US$ 25 million, with the participation of Singapore-based global investor EDBI and existing investors, in a mix of equity and debt.
In November, Sleek announced that it had raised US$14 million during the first closing led by White Star Capital and Jungle Ventures.
Sleek said that it will use the fresh funds to bolster tech and product development, hire new talent, expand presence in existing markets, and enter new markets.
The company is licensed by Singapore’s Accounting and Corporate Regulatory Authority (ACRA) and the Monetary Authority of Singapore (MAS) under the Payment Act.
Sleek began operating in 2017 by offering company registration services, then expanded its offering to provide bookkeeping, tax, and payroll services to its clients.
More recently, Sleek started offering free business accounts to all of its clients.
The SGD deposit accounts are able to collect and process payments, while handling the bookkeeping in an automated fashion.
Additionally, Sleek will add payment cards to the service offering this month, allowing business owners to easily pay vendors, or even issue cards for all of their employees for ease of expense management.
Adrien Barthel, Chief Growth Officer and Co-founder of Sleek said,
“Since day one, our mission has been to allow anyone to start a business quickly and easily.
With the latest addition of the business account feature, now more than ever, we are enabling ideas to become great businesses, without the friction and inefficiency that paper based and offline processes bring.’
Julien Labruyere, CEO and Co-founder of Sleek shares,
“We are very happy and humbled to welcome EDB Investments into our journey.
As a Singapore-founded company that focuses a lot on building a digital infrastructure for companies to set up and grow, we are thankful for this unique recognition of our added value to the local ecosystem, and we look forward to working together in Singapore and beyond.”