Running a little to medium-sized company implies a small personnel needs to handle a plethora of jobs, like accounting, tax records and regulative filings. Singaporean startup Lanturn simplifies their workload with a mix of corporate services and an internal platform that helps automate administrative work. Lanturn revealed today that it has raised a $3 million seed round led by East Ventures and CoCoon Ignite Ventures.
Spun out from Zave, a Singaporean management app (and another start-up in East Ventures’ portfolio), two years back, Lanturn now has nearly 400 clients. It focuses on start-ups and SMEs, serving as a “one-stop online corporate services” service, and utilizes its internal tech platform to differentiate from other business company.
Lanturn’s services consist of helping companies incorporate in Singapore and handling visa applications for new hires. It is led by president Velisarios Kattoulas.
Kattoulas informed TechCrunch that Lanturn’s seed financing will be utilized for hiring and to develop its innovation.
In a declaration about the financial investment, East Ventures handling partner and co-founder Batara Eto said, “We are delighted to support solutions that allow dexterity and flexibility among organizations, specifically in the wake of the pandemic, and Lanturn provides that by leveraging technology to improve corporate services and empower companies to make more educated data-driven decisions.”
Other individuals in the round included individual investors Alex Turnbull; RVP Equity managing partner Saki Georgiadis; Meiyen Tan, the head of Oon & & Bazul’s restructuring and insolvency practice; White & & Case Asia-Pacific partner Chris Kelly; and Next Billion Ventures endeavor partner Tiang Foo Lim.
Lanturn’s clients vary in size from really early-stage start-ups with just one individual, to mid-sized and little property supervisors, SMEs and tech companies that have more than 100 workers spread throughout numerous countries.
The COVID-19 pandemic implied there was less demand for Lanturn’s services this year than the business had anticipated, however on the other hand, “the pandemic has highlighted to customers that since Lanturn has its own cloud-based business services platform, we can serve them also today as we could prior to the pandemic,” Kattoulas said. “That’s assisted us keep momentum, and it’s one factor we’ll grow more this year than nearly any traditional or cloud-based corporate services firm.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.