Singapore-based online corporation services provider Sleek has raised US$ 4M in a funding round held in November 2020, led by SEEDS Capital. Other participants in the funding round include MI8 Limited and Pierre Lorinet.
Capital raised will be used by the startup to expand into new markets in Asia and launch new platform functionalities and business segments to improve the overall customer experience.
Founded by Julien Labruyere and Adrien Barthel in 2017, Sleek is a startup that incorporates and manages companies with easy-to-use and efficient online tools. Its suite of services consists of digital incorporation, company secretary, tax filing and accounting services. It aims to make the lives of entrepreneurs and investors easier. The startup digitally incorporates companies in the regions of Singapore & Hong Kong and helps them manage their administration, accounting and tax matters using technology. The founders came up with the idea of starting an online incorporation services company because they were frustrated at how sluggish and paper-based the incorporation and company registration process was. Since Sleek’s inception, it has incorporated hundreds of companies digitally. It claims to be currently managing more than 3,000 companies with almost US$ 10M in cash, Annual Recurring Revenue (ARR).
Sleek achieved operating financial breakeven a few months ago. Co-founder Julien Labruyere envisions Sleek to be the go-to digital platform for all entrepreneurs launching their companies in Singapore, Hong Kong, and beyond.
About SEEDS Capital
SEEDS Capital is the investment arm of Enterprise Singapore and aims to support the growth of promising Singapore-based startups. It co-invests with independent investors in pioneering startups who bring with themselves strong intellectual content and global market potential.
Presently, it is working with more than 500 deep tech startups, and over 40 incubators, accelerators and venture capital firms.It focuses on startups in emerging and strategic industries such as Advanced Manufacturing & Engineering (AME), Health & Biomedical Sciences (HBMS), and Urban Sustainability & Solutions (USS). It also seeks to invest in emerging technologies such as Fintech, Artificial Intelligence, and Agri-tech.
Geoffrey Yeo, General Manager of SEEDS Capital said Sleek’s innovative digitally-driven solutions are positioned well enough to disrupt outdated corporate secretarial services, enabling entrepreneurs to concentrate on creating value for their companies and customers, and less on administrative back-office tasks. He further added that he sees new opportunities created by the enhanced pace of digitization of businesses and processes amidst the pandemic, and his firm is thrilled to support Sleek in their journey to introduce next-generation corporate and financial services to small and growing enterprises.
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