Osome raises $17m in Series B to expand its finance admin platform for SMBs

By Gloria Mathias

Osome, a finance admin platform for founders and small and medium businesses (SMBs), has announced that it has concluded its Series B funding round with over $17 million in capital, a mix of equity and debt from new and existing investors.

The company has grown its 2023 revenues while decreasing its burn rate, charting a clear path towards profitability. The surge of new Osome customers underscores the market’s increasing recognition of Osome’s solutions for streamlining accounting, financial compliance, and other repetitive business tasks that can be automated in the next wave of innovation.

With new funding and a clearer path to sustainable growth and profitability in 2024, Osome will double down on its founding mission of providing solutions that address the core financial challenges faced by modern businesses. It continues to invest in its product offerings, further emphasizing the acceleration of automation and artificial intelligence (AI) components to serve its expanding customer base more efficiently. This funding also helps Osome invest in marketing and customer service and accelerate its go-to-market efforts.

Victor Lysenko, CEO and Co-founder of Osome, said, “Osome was founded to support and champion the needs of entrepreneurs, to help them see their ideas come to life. Asia’s seeing a funding winter, with companies carrying out mass layoff exercises and a much more challenging job environment. This means we’re seeing a record number of individuals turning to entrepreneurship. Osome truly believes the current downturn has catalysed more founders and entrepreneurs to realise their dreams of running their businesses, and that’s what we are here for.”

Anton Roslov, the Chief Technology Officer and Founder, shared, “Artificial intelligence will increase the customer experience and accelerate automation and integration of Osome’s services in line with Osome’s vision to become entrepreneurs’ leading financial operating system. Osome’s next growth stage is focused on profitability and operational excellence while continuing to provide high-quality services and innovation to its clients.”