Sleek has raised $4 million from investors led by SEEDS Capital, while SourceSage has closed a S$3 million funding round from iGlobe Partners and Wavemaker Partners.
Sleek raises $4m led by SEEDS Capital
Sleek, a Singapore-based fintech startup has raised $4 million from investors led by SEEDS Capital, the investment arm of Enterprise Singapore, according to a press statement.
Existing investors who joined the round included MI8 Limited, a Hong-Kong multi-family office, and Pierre Lorinet. Angel investor Varun Mittal, the co-founder of Singapore Fintech Association, also participated as part of the Sequoia Capital Scout programme.
The proceeds will be used to expand to new markets in Asia as well as to develop digital tools for Sleek’s corporate and financial services to entrepreneurs, investors, and SMEs.
Founded in Singapore by Julien Labruyere and Adrien Barthel, Sleek provides cloud-based solutions, with AI-driven customer platforms and automation for entrepreneurs’ operating systems. Sleek’s services include company incorporation and on-going compliance management, digital accounting, and tax filing in Singapore and Hong Kong.
Sleek currently manages more than 3,000 companies with almost $10 million in Annual Recurring Revenue (ARR). The platform reached operating financial breakeven a few months ago.
SourceSage closes $2.23m funding round
SourceSage, a Singapore-based e-commerce platform, has closed a S$3 million ($2.23 million) funding round, according to a press statement.
The funding was led by Singapore-based cross-border venture capital firm iGlobe Partners as well as Wavemaker Partners, an early-stage venture capital firm with headquarters in Singapore and Los Angeles.
The fund will be used to accelerate its current expansion plans in scaling up its online and enterprise B2B e-commerce platforms. The company will also strengthen its key management team following this fundraising.
“SourceSage developed its in-depth know-how on building e-commerce features from its original mission as a commodities software, trading, and data platform provider,” said General Partner of Wavemaker Partners Gavin Lee.
Founded in 2015, SourceSage aims to empower enterprises and individuals with their own platforms to start, grow, and scale their businesses online. Its platform has engaged more than 7,000 merchants from over 14 countries, with clients including DBS Bank, DHL, Mitsui & Co., and others.