Singapore-based one-stop online corporate services startup announced it has raised US$3 million in a seed funding from a handful of investors in a statement dated October 8, 2020.
Investors that took part in the round of financing include East Ventures and Hong Kong-based CoCoon Ignite Ventures, Alex Turnbull; Saki Georgiadis, Managing Partner at RVP Equity; Meiyen Tan, Head of Oon & Bazul’s Restructuring and Insolvency Practice; Chris Kelly, Partner at White & Case in the Asia-Pacific; and Tiang Foo Lim, a venture partner at Next Billion Ventures and a partner at SeedPlus the statement noted.
Lanturn, a one-stop online corporate services startup based in Singapore, announced today that it has raised US$3 million in a seed funding round from a slew of investors, including East Ventures and Hong Kong-based CoCoon Ignite Ventures.
Also participating in the round were individual investors, including Alex Turnbull; Saki Georgiadis, Managing Partner at RVP Equity; Meiyen Tan, Head of Oon & Bazul’s Restructuring and Insolvency Practice; Chris Kelly, Partner at White & Case in the Asia-Pacific; and Tiang Foo Lim, a venture partner at Next Billion Ventures and a partner at SeedPlus.
According to the press release the fresh funds will be used to enhance Lanturn’s corporate service and accounting practices, continue to develop the Zave corporate services platform, and develop new service lines.
Started in 2018, Lanturn is a digital corporate services firm for high-growth companies in Singapore. Lanturn provides support services in accounting, compliance, payroll, visa applications etc for companies.
“Nobody runs a tech firm, an SME or a fund because they want to do tax filings, accounting, visa applications, etc., and it’s often deeply frustrating how much time administrative tasks can take if you manage them in-house without the benefit of custom-built technology,” said Velisarios Kattoulas, CEO of Lanturn.
“Many startups and other small businesses have innovative business propositions, but they often find it challenging to juggle developing their products and solutions for the market while handling routine bookkeeping, compliance checks and so on,” commented Batara Eto, Managing Partner and Co-founder of East Ventures, which recently closed its eighth fund.
“We are pleased to support solutions that enable agility and adaptability among businesses, especially in the wake of the pandemic, and Lanturn provides that by leveraging technology to streamline corporate services and empower businesses to make more informed data-driven decisions,” Eto said.
“We think it makes much better sense for our entrepreneurs and investors to focus on their core businesses. We also think that cloud technology can make corporate services, accounting and other services more efficient. That’s why we continue to invest in the Zave platform, the corporate services platform that we started building in 2017,” he added.