The company will utilize the fresh capital to enhance its corporate service and accounting practices and develop its Zuve platform
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Singapore-based Lanturn, a corporate services firm, on Thursday announced that it has raised USD 3 million in a seed round.
The fund was raised from early stage investors East Ventures and CoCoon Ignite Ventures. Others who participated in the rounds as individual investors included Alex Turnbull, Saki Georgiadis, Meiyen Tan, and many more.
The company will utilize the fresh capital to enhance its corporate service and accounting practices and develop its Zuve platform.
Founded in 2017 by Velisarios Kattoulas, Lanturn is a technology-driven corporate services firm that offers solutions ranging from corporate secretarial, accounting, tax, immigration, and corporate finance.
Till date, the startup has helped SMEs, technology firms, private equity firms, venture capital firms and venture debt funds with their administrative tasks and has saved their time.
“We think it makes much better sense for our entrepreneurs and investors to focus on their core businesses. We also think that cloud technology can make corporate services, accounting and other services more efficient,” said Kattoulas.
“That’s why we continue to invest in the Zave platform, the corporate services platform that we started building in 2017. We believe it helps us deliver a better service to our clients, it makes sure that our clients and their investors and other stakeholders can easily access key documents, and it puts us in a position to use our clients’ data to help them manage their businesses more effectively.”
Commenting on the deal, Batara Eto, managing partner and co-rounder of East Ventures said “Many startups and other small businesses have innovative business propositions, but they often find it challenging to juggle developing their products and solutions for the market while handling routine bookkeeping, compliance checks and so on. 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.”
East Ventures has recently closed its eight fund.