CORPORATE services startup Lanturn on Thursday announced it has raised US$3 million in seed funding.
Leading the round were early-stage venture capital firms East Ventures and CoCoon Ignite Ventures, the Singapore-based startup said in a press statement.
Joining them were individual investors including fund manager Alex Turnbull, who is former Australian prime minister Malcolm Turnbull's son; Saki Georgiadis, RVP Equity managing partner; Tan Meiyen, head of law firm Oon & Bazul's restructuring and insolvency practice; Chris Kelly, who leads law firm White & Case's mergers and acquisitions practice in Asia; and Foo Tiang Lim, partner at South-east Asian seed fund SeedPlus.
Lanturn - which offers corporate secretarial, accounting, tax, immigration and corporate finance solutions - will use the funds to improve its offerings in Singapore.
The fresh injection will also go into developing its corporate-services platform Zave to further digitalise user experiences, and creating new service lines.
Lanturn chief executive Velisarios Kattoulas noted that cloud technology can make corporate services, accounting and other services more efficient.
That's why the startup has continued to invest in its Zave platform, which allows users to easily access documents and enables Lanturn to use its clients' data to help them manage their businesses more effectively, Mr Kattoulas added.
East Ventures managing partner and co-founder Batara Eto said that Lanturn empowers businesses to make more informed data-driven decisions and offers solutions that help businesses become agile and adaptable.
"Many startups and small businesses have innovative business propositions, but often find it challenging to juggle developing their products and solutions for the market while handling routine bookkeeping, compliance checks and so on," Mr Eto added.
Since 2018, Lanturn has provided cloud corporate services for accounting and tax, corporate secretaries, incorporation, virtual chief financial officers, immigration and visa applications.