Sleek, a platform that provides company formation and accounting services for small and medium-sized enterprises and entrepreneurs, announced that it achieved profitability in Singapore in the second quarter of 2024.
The company also secured a US$5 million debt financing from Singapore-based Fintech Nation Fund to support its continued expansion.
SophisticatedThe seven-year-old company said the funding will help fuel growth across its markets in Singapore, Hong Kong, Australia and the UK.
The company simplifies business administration through its digital platform that handles company formation, accounting, taxes, payroll and more, helping entrepreneurs efficiently manage their back-office operations.
Sleek currently serves over 15,000 businesses worldwide and aims to continue to grow its customer base while enhancing its services through in-house technology solutions.
The platform has seen its customer base grow by 30% in the past year without increasing its headcount, which the company attributes to its technology-driven approach.
Sleek’s proprietary tools, including SleekSign and Sleek Receipts, play a key role in streamlining services for clients, enabling them to process millions of transactions and support businesses that generate over $5 billion in revenue.
Julien Labruiere, co-founder of Sleek, said:
“We are excited to partner with Fintech Nation Fund and secure our first debt financing round. This investment will accelerate our growth in a sustainable manner, as we have done for the past seven years.”
Achieving 30% year-over-year growth while reducing cash burn and improving customer satisfaction are key to our success, and we are ready to take it to the next level.”
Vanessa Ho, co-founder of Fintech Nation Fund, added:
“In today’s tough economic climate, companies like Sleek prove that sustainable growth is possible with the right approach. We are proud to support Sleek at this exciting stage.”
Sleek’s innovative approach to back-office operations for small and medium-sized businesses is the kind of forward-thinking solution we want to invest in. We look forward to seeing how Sleek’s next chapter unfolds.”
Featured Image Credit: Free Pick
