Sleek, a platform that provides accounting and incorporation services for entrepreneurs and SMEs, has announced to have raised USD 4 million in Series A funding from Jungle Venture and White Star Capital. It is worth noting that the startup has so far raised USD 24 million in total just in funding.

The fresh funds will be used to optimize the company's platform to accelerate technology and product development. Sleek also intends to grow its workforce by broadening its footprint in current markets such as Singapore, the Philippines, and Hong Kong.

Sleek creators, Julien Labruyere and Adrien Barthel established a back-end operating system platform that administers everything from incorporation to regulatory compliance in 2017.

The startup is known to manage over 5000 company portfolios, doubling its number since the pandemic, as well as more than 1.4 million accounting transactions, resulting in the posting of USD 700 million revenue in 2020.

As a part of its expansion efforts in the U.K., Sleek has acquired the incorporation management company Ltd. Companies, which has integrated over 4,50,000 companies since its inception in 2005. Sleek is also intends to add its stack to the current Ltd. Companies by offering to develop an operating system for SMEs in the UK.

White Star Capital's founder and Managing Partner Eric Martineau-Fortin reportedly stated that the partnership with Sleek would allow them to capitalize on its global network to resolve the issues for SMEs and augment their growth to Europe and Australia.

Sleek has also launched the Sleek Business Account, which allows entrepreneurs to open a quick deposit account through the Sleek app, as well as aid in streamlining various accounting practices.

Meanwhile, it intends to launch a CFO service that will allow company executives to access client data for accounting needs via business intelligence for better recommendations and analysis on strategy, and budgeting among others.

Source credit:

https://techcrunch.com/2021/11/15/sleek-secures-14m-series-a-to-enhance-its-corporate-service-platform/