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Osome raises $22.91m to boost profitability

This was generated through a mix of equity and debt.

Osome announced it was able to raise $22.91m (US$17m) through a Series B funding that will be used to strengthen its balance sheet, with the primary goal of accelerating profitability.

The fintech firm said the funding is a mix of equity and debt from new and existing investors. 

“With new funding and a clearer path to sustainable growth and profitability in 2024, Osome will double down on its founding mission of providing innovative solutions that address the core financial challenges faced by modern businesses,” it said.

Osome also said it continues to enhance its product offerings, further emphasising the acceleration of automation and artificial intelligence (AI) components to serve its expanding customer base.

“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,” Osome Chief Technology Officer and founder Anton Roslov said. 

ALSO READ: Allozymes raises $20.25m to fund Europe expansion

The company is currently serving over 13,000 small and medium-sized businesses. So far, it has helped over 2,500 new firms go to market in 2023 alone.

US$1= S$1.35

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