Running a small or medium-sized business is no joke, in these kinds of businesses often employees need to juggle between various tasks including regulatory filings, tax records, bookkeeping, etc. So, enters a Singaporean startup named Lanturn, which streamlines the workload of small and medium businesses by offering corporate services and an internal platform that helps to automate administrative works.
Today, Lanturn has announced that it has raised a $3 million seed round led by CoCoon Ignite Ventures and East Ventures.
Currently, the start-up has as much as 400 clients. The startup acts as a one-stop online corporate services solution and it completely focuses on various startups and SMEs.
The Co-founder and Managing Partner of East Ventures said in a statement, “We are pleased to support solutions that enable agility and adaptability among businesses, especially in the wake of the pandemic, and Lanturn provides that by leveraging technology to streamline corporate services and empower businesses to make more informed data-driven decisions.”
Currently, the start-up’s services include, handling visa applications for the new hires and helping companies to incorporate in Singapore. The organization is currently led by its CEO, Velisarios Kattoulas. And according to him, the latest seed fund would be used to hire new talent and develop Lanturn’s strategy.
For now, Lanturn’s client differs in size, which can be an early-stage company with only one person or it can be a small or medium-size organization with more than 100 employees spread across the planet.
Just like any other organization, Lanturn is also seeing less demand due to the Covid-19 pandemic. However, the CEO of the company has said, “the pandemic has highlighted to clients that because Lanturn has its own cloud-based corporate services platform, we can serve them as well today as we could before the pandemic.”
He also added, “That’s helped us maintain momentum, and it’s one reason we’ll grow more this year than almost any cloud-based or traditional corporate services firm.”