Sleek announced that it has extended its Series A round to USD 25M, with the participation of Singapore-based global investor EDBI and existing investors, in a mix of equity and debt.
SINGAPORE; 17 December 2021 – Sleek.com, a tech company dedicated to making company
registration accessible for all, announced that it has extended its Series A round to USD 25M,
with the participation of Singapore-based global investor EDBI and existing investors, in a mix of
equity and debt. In November, Sleek previously announced a first closing led by White Star
Capital and Jungle Ventures.
Sleek will use the fresh funds to bolster tech and product development, hire new talent, expand
presence in existing markets, and enter new markets.
Founded by Julien Labruyere and Adrien Barthel in Singapore, Sleek’s vision is to enable
anyone to go from an idea to an operating company in a day. Sleek’s proprietary technology
makes it possible to quickly register a legal entity and open a business account able to collect
and send payments at the same time. The company is licensed by Singapore’s Accounting and
Corporate Regulatory Authority (ACRA) and the Monetary Authority of Singapore (MAS) under
the Payment Act.
Sleek began operating in 2017 with the mission of removing the admin hassle from every
entrepreneur and SME owner’s plate. It began by offering company registration services, then
expanded its offering to provide bookkeeping, tax, and payroll services to its clients. Since its
inception, the company has built its business around a 100% digital experience, a transparent
offering, and an efficient service delivery enabled by technology.
More recently, Sleek started offering free business accounts to all of its clients. The SGD
deposit accounts are able to collect and process payments, while handling the bookkeeping in
an automated fashion. In addition, Sleek will add payment cards to the service offering this
month, allowing business owners to easily pay vendors, or even issue cards for all of their
employees for ease of expense management.
Adrien Barthel, Chief Growth Officer and Co-founder of Sleek said, “Since day one, our
mission has been to allow anyone to start a business quickly and easily. With the latest addition
of the business account feature, now more than ever, we are enabling ideas to become great
businesses, without the friction and inefficiency that paper based and offline processes bring.’
In less than five years, the company has built a portfolio of more than 5,000 clients, generating
over US$10M of annualized recurring revenue. Sleek expanded into Hong Kong in 2019, began
operations in Australia in 2021, and recently announced the acquisition of Ltd Companies in the
United Kingdom. Ltd Companies is a historical player of the company registration space and
has incorporated more than 450,000 companies.
This month, Sleek was recognized as the Singapore Partner of the Year 2021 by accounting
software firm Xero. After having earned the award in 2019 as well, Sleek became the only
company that has won this prestigious title twice. This serves as a global recognition of Sleek’s
growth and endorses the quality of services delivered to its clients.
Julien Labruyere, CEO and Co-founder of Sleek shares, “We are very happy and humbled to
welcome EDB Investments into our journey. As a Singapore-founded company that focuses a lot
on building a digital infrastructure for companies to set up and grow, we are thankful for this
unique recognition of our added value to the local ecosystem, and we look forward to working
together in Singapore and beyond.”
Chu Swee Yeok, CEO and President of EDBI commented, “With digitalisation becoming
increasingly critical for small and medium size enterprises, Sleek’s one-stop digital platform
addresses a common pain point for entrepreneurs and business owners looking to digitalise
corporate secretarial, accounting and finance functions in a simple and cost-effective manner.
EDBI looks forward to supporting our homegrown company as it develops new business
solutions and technology capabilities in Singapore whilst expanding globally.”