Singapore Fintech startup Sleek secures $4m in Funding

Singapore financial technology (fintech) startup Sleek has raised $4 million in a new funding round led by SEEDS Capital, the investment arm of Enterprise Singapore and participated by MI8 Limited, a Hong-Kong multi-family office, and investor Pierre Lorinet.

Founded in Singapore by Julien Labruyere and Adrien Barthel, Sleek strives to become every entrepreneur’s operating system with its wide range of services from company incorporation and on-going compliance management, to digital accounting and tax filing in Singapore and Hong Kong.

The cloud-based solution, with an AI-driven customer platform and automations, makes Sleek five times more efficient compared to traditional service providers in the industry, the startup said in a statement.

To Sleek, the vision is to develop highly efficient digital products to improve user experience, while allowing the internal team to focus on advising customers, and helping their companies to thrive in any business environment.

It currently manages a fast-growing portfolio of more than 3,000 companies with almost $10M in cash Annual Recurring Revenue (ARR), reaching operating financial breakeven a few months ago.

“Sleek’s innovative digitally-enabled solutions are well positioned to disrupt traditional corporate secretarial services, allowing entrepreneurs to spend more time creating value for their companies and customers, and less on administrative back-office tasks”, said Geoffrey Yeo, General Manager of SEEDS Capital.

Despite stiff competition, Sleek’s innovative and customer-centric approach has earned itself as a leading competitive player in the rather traditional industry.

Looking onward to 2021, Sleek aims to double down on product development and growth. “It has been extremely humbling to experience the growth we’ve seen at Sleek over the last 3 years, even more so amidst the global pandemic which has been a growth catalyst for fully digital players like us,” Labruyere said. – BusinessNewsAsia.com