Sleek, a Singaporean incorporation and business services platform, is launching in the UK with a $14M Series A funding round.
The round, which brought the total capital raised by the company to $24M, was led by White Star Capital and Jungle Ventures. As part of the UK market entry, the startup is also acquiring Ltd Companies, which it will incorporate into its full stack to create a holistic SME operating system for UK-based entrepreneurs and businesses. The amount of this deal was not disclosed.
The company intends to use the funds to expand operations and its business reach.
Founded in 2017 by Julien Labruyere and Adrien Barthel in Singapore, Sleek is a back-end operating system for startups and SMEs, a single platform to manage all back office operations and seek expert advisory from qualified professionals. The platform streamlines, automates and integrates company set-up, financial and regulatory reporting, book-keeping and banking services. It recently launched ‘Sleek Business Account’ that simplifies opening bank accounts for SMEs. It enables entrepreneurs and small business owners to open a deposit account in a day through the app, and start transacting. Additionally, the account details can be viewed on the dashboard along with the other company metrics to streamline bank reconciliation for accounting and book-keeping purposes. Additionally, the company is planning to release products addressing remittances and card issuance. The company manages a portfolio of over 5,000 companies, who collectively generate about $700M of revenue and processed over 1.4M bookkeeping transactions in 2020. Since inception, Sleek has expanded offices beyond Singapore to Hong Kong, Australia, UK, and the Philippines.