Lanturn – Singaporean start-up raises $ 3 million
Running a small or medium-sized business is no joke, in this type of business, employees often have to juggle various tasks including regulatory filings, tax records, accounting, etc. Lanturn, which streamlines the workload of small and medium-sized businesses by offering business services and an internal platform that automates administrative work.
Today, Lanturn announced that it has raised a $ 3 million funding round led by CoCoon Ignite Ventures and East Ventures.
Currently, the start-up has up to 400 clients. The startup acts as a one-stop online business services solution and fully focuses on various startups and SMEs.
The co-founder and managing partner of East Ventures said in a statement, “We are happy to support solutions that enable the agility and adaptability of businesses, especially in the aftermath of the pandemic, and Lanturn provides that by pulling using technology to streamline business services and enable businesses to make more informed, data-driven decisions. “
Currently, the startup’s services include processing visa applications for new employees and helping businesses set up in Singapore. The organization is currently headed by its CEO, Velisarios Kattoulas. And according to him, the last 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 a start-up company with one person, or a small to medium-sized organization with over 100 employees spread across the globe.
Like any other organization, Lanturn is also seeing less demand due to the Covid-19 pandemic. However, the CEO of the company said, “The pandemic has shown customers that since Lanturn has its own cloud-based business services platform, we can serve them just as well today as before. pandemic.”
He also added, “It has helped us maintain our momentum, and it’s one of the reasons we’re going to grow more this year than almost any cloud-based or traditional business services company.”