Osome, a Singapore-based fintech start-up founded by Viktor Lysenko who once set up Rocketbank in Russia, raised $3m from a consortium of predominantly Russian VC funds, Vc.ru reported.

This funding round was led by Target Global Fintech Opportunities, a fund set up by Target Global and Sergei Solonin, the Russian co-founder of the payment system Qiwi. Phystech Ventures, a VC fund founded by MIPT University alumni in Moscow, and Ad.ru (AdFirst) also took part in the round.

These very investors provided their initial $2m support for Osome in December 2018 in a round joined by Lev Leviev, another Russian VC, and his LVL1 Group, according to Crunchbase.

Osome is developing a cloud based service that helps entrepreneurs manage their corporate documents and reporting. The system enables legal entity registration, accounting, payments, financial reports, and e-signature supported docs processing.

The start-up reportedly wants to use the new investment to back its expansions plans for the UK and Hong Kong.

Viktor Lysenko founded Osome in July 2017 and now claims his start-up is offering its services to “thousands” of Singaporean entrepreneurs.