Osome raises USD 16 mln Series A

The round included returning investors Target Global, AltaIR Capital and Phystech Ventures, and new backers S16VC and venture capitalist Peng T. Ong, who joined as an angel investor. Its Series A brings Osome’s total funding to USD 24.5 million.

Its Series A will be used on international expansion and product integrations. Osome will add integrations with different ecommerce platforms and administrative services, with the goal of cutting hours out of the time ecommerce company owners spend on accounting each week.

Osome’s flagship product is online accounting services for SMEs, connecting companies with chartered accountants. It also offers corporate secretary services, including business registration, compliance, and taxation. The platform uses machine learning tech to automate tasks — for example, it categorises, tags and stores documents, creates management reports and tax returns and files paperwork.