- Singaporean startup Lanturn raises $3 million seed round
- The funding will be used for hiring and developing its technology
- The company acts as a joint online platform for corporate services
Lanturn has raised $3 million in series funding. Lanturn is a Singaporean startup company. The company helps other companies to incorporate their business and accounting processes. It puts in compliance, reporting, payroll, and tax services as well. Lanturn has raised a $3 million seed round in funding. It is led by East Ventures and CoCoon Ignite Ventures. It takes a lot of drudgery to run a small-sized business. A surfeit of tasks needs to be looked after.
These tasks cover bookkeeping, tax records, and regulatory filings. Lanturn portal uses AI and another technology to produce accounts. It accords an experience that’s quicker, better, and transparently priced. Accounts are produced in record time and with infallible accuracy. Their workload is contoured with a blend of corporate services.
Lanturn accommodates an internal platform that assists to facilitate administrative works. Lanturn is led by Velisarios Kattuoulas, the CEO of the company. Lanturn’s virtual CFOs can translate your monthly accounts into accurate financial forecasts. The strategies offered by Lanturn helps to keep your startup in business. The seed fundings is to be used for hiring and developing its technology.
Batara Eto is the co-founder and the managing director of the company East Ventures. In a statement, he said that “We are pleased to support solutions that enable agility and adaptability among businesses. In the wake of the pandemic, Lanturn has leveraged technology to smoothly corporate services. It has empowered business to make more informed data-driven services”
Individual investors Alex Turnbull, RVP Equity managing partner Saki Georgiadis. Meiyin Tan, the head of Oon& Bazul’s restructuring and insolvency practices was in the round. Investors such as White & Case Asia-Pacific partner Chris Kelly, and Next Billion Ventures venture partner Tiang Foo Lim were a part of it.
Lanturn has a wide range of clients in size from very early-stage startups. Incorporating a single person, to small mid-sized asset managers. Tech firms with more than 100 employees spread across different countries add in Lanturn.
Drawn out from Zave, a Singaporean management app, Lanturn now has almost 400 clients. Regardless you are an entrepreneur, or an investor or a fresh startup Lanturn team can leverage years of experience and technology to help you keep everything pliable.
As in the pandemic scenario, the lantern was not anticipating this much of success. On the other hand, Lanturn’s cloud-based platform has captivated its clients. Lanturn firm’s funding has helped them maintain momentum. “It is one of the reasons we’ll grow more this year than any cloud-based corporate firm,” said Kattoulas.
