Singapore-based Sleek, an online corporate solution provider that uses efficient online tools for back-office functions, raised USD 14 million on 16th November.
Investors: Jungle Ventures and White Star Capital led the Series A round of funding. The total funding now exceeds USD 23 million.
Purpose of funding: Sleek will use the new funds to enhance their product, hire more employees, and expand their business. The company aims to develop its product managers, corporate secretaries, employees, and interns in Singapore, Hong Kong, Australia and the United Kingdom. It recently launched a product to assist businesses in opening a business bank account in Singapore.
Founded in 2017 by Adrien Barthel and Julien Labruyere, Sleek is located in Singapore. The company is a provider of corporate back-office solutions for small and medium businesses. It primarily operates in Singapore and Hong Kong. The startup built an operating system platform from incorporation to government, accounting, taxes, visas, and regulatory compliance. Moreover, the company is a certified filing agent through ACRA, a Singapore Corporate Secretary Association member, and an affiliated member of the Institute of Singapore Chartered Accountants. This means that it is not subject to legislative restrictions. The company has helped countless companies focus on what they enjoy more by reducing their time on back-office operations. A recent milestone on the company’s product roadmap was the launch of Business Account. Entrepreneurs and small business owners can now open a deposit account without dealing with cumbersome paperwork through the Sleek platform.
What the founder has to say
“With the launch of Sleek Business Account, we have added a major brick in our product vision of building the Operating System for entrepreneurs. Gone are the days where you needed to navigate between your corporate secretary, accountant and bank relationship manager – often sending hard copies of documents via courier. Now everyone can start a Singapore company and collect the first payments in a day, and from anywhere in the world,” said Adrien, CEO and co-founder at Sleek.
What the investors have to say
“I believe we can be an excellent partner to Sleek and leverage our global footprint to help supercharge their growth into Europe and Australia,” said Eric Martineau-Fortin, Founder and Managing Partner at White Star Capital.
“Sleek addresses the deeply underserved challenge of back-office management for entrepreneurs and SMEs globally. Their growth across geographies, and rapid expansion, is testament to the accelerated adoption of the platform and the value it brings to the ecosystem. It’s a fantastic business with a tremendous growth potential,” said David Gowdey, Managing Partner at Jungle Ventures.
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