Sleek extends Series A round to USD 25M with participation of EDBI and existing investors

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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.”