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Illuminate Financial Management company logo
Venture Capital
FINANCE | Investment Firms & Funds
illuminatefinancial.com

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Investments

58

Portfolio Exits

5

Funds

5

Partners & Customers

1

About Illuminate Financial Management

Illuminate Financial Management (IFM) is a venture capital fund at the intersection between major financial institutions, emerging technology service providers, and investors. IFM's deep knowledge of the FinTech space enables them to identify those firms with the potential to solve significant challenges in the industry. Illuminate Financial Management was founded in 2014 and is based in London, United Kingdom.

Headquarters Location

3rd Floor 85 Great Eastern Street

London, England, EC2A 3HY,

United Kingdom

+44 (0)203 198 1600

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Expert Collections containing Illuminate Financial Management

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Find Illuminate Financial Management in 1 Expert Collection, including Wealth Tech.

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Wealth Tech

1,882 items

A category of financial technology that is digitizing & streamlining the delivery of wealth management. Included: Startups that offer technology-enabled tools for active and passive wealth management for retail investors and advisors.

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Latest Illuminate Financial Management News

This AI-based business assistant app just raised $25M to digitise accounting

Dec 7, 2022

Osome, a Singapore-based financial admin super platform, announced that it has secured $25 million in a Series B round of funding from Illuminate Financial, AFG Partners, and Winter Capital (also invested in Money View ). The business assistant app has secured a total funding of $51 million since its inception with this funding. As per the company press release, Osome has witnessed a 3.5x increase in customer base with plans to expand its London team in 2023 as the UK turns to side hustles and micro-businesses to power economic growth. The Asian company has also seen revenues double since its previous raise and plans to expand its Asia operations to Singapore and Hong Kong. Victor Lysenko, founder and CEO says, “Small businesses spend billions of dollars on accounting, but accounting software doesn’t give them what they need – expert advice. Only 2% of this spend is on accounting software – I’m interested in improving the 98% – the most exciting opportunity is on the human side.” “Our plan is to be the largest provider of hybrid accounting services globally. Osome’s ‘Accounting Factory’ approach uses state-of-the-art machine learning to make our accountants three times more efficient. We’ll triple that next year,” Lysenko adds. Helps set up small businesses Founded by a serial entrepreneur, Victor Lysenko, Osome helps small businesses set up through a single simple platform with easy-to-use software and an expert accountant to take care of financial admin. Further, Osome automates accounting, payroll, taxes, and other administrative tasks and helps entrepreneurs focus on what they do best. The company’s AI and professional agents take over the documents and convert them into actionable numbers, tax filings, and reports to ensure the company stays compliant and meets the mandated deadlines. Earlier this year, the company launched a comprehensive accounting platform to complement its accountant offer. To reiterate, Osome Accounting is the automated accounting platform providing tax and financial reports, expenses, invoice management, and live chat to human accountants. “Osome is the go-to platform for businesses from startup to scale-up. Our Series B raise is a validation of this, putting us on course to help 1 million small businesses grow,” says Victor Lysenko. Currently, Osome employs people of over 40 nationalities across 11 countries. “Our global leadership team is made up of talented experts from a variety of backgrounds and includes: Victor Lysenko (Founder and CEO); Konstantin Lange (COO); Sharon Johal (VP People & Culture); Dima Bykov (VP Product); Helena Flores (VP Accounting); Vlad Sharuda (CMO); Vanessa Braun (MD Singapore); Alexey Potemkin (MD UK); Tong Ip (MD HK), Anton Roslov (CTO), Wan Rasheedah MD Malaysia).” “My promise to small businesses is: ditch your complex tech stack and accountant and come to Osome. Our super platform frees you up to focus on growing your business – from hassle-free set up to your first tax filing. Stop using complicated software built for accountants – the era of Xero is over,” he adds. Ivan Ong, Principal at Osome investor AFG Partners, comments, “Osome is addressing a central issue in back office management for entrepreneurs and SMEs globally, and in a short time has positioned itself as a market leader in a space that has significant growth potential. We are pleased to participate in this round and be joined by other seasoned technology investors as we support Osome’s growth path.” Luca Zorzino, Investment Direct at Illuminate Financial Management, adds, “We are delighted to partner with Victor and the team at Osome as they build out their European & US presence. As a global investor backed by large financial institutions, we see a tremendous opportunity in bringing digitisation to incorporation and accounting services to these new geographies. We’re excited to back an all-star team that has demonstrated they can already win in key markets in APAC.”

Illuminate Financial Management Investments

58 Investments

Illuminate Financial Management has made 58 investments. Their latest investment was in Osome as part of their Series B on December 12, 2022.

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Illuminate Financial Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/6/2022

Series B

Osome

$25M

Yes

5

11/28/2022

Series A

Kiln

$17.8M

Yes

20

11/8/2022

Seed VC

Fordefi

$18M

Yes

6

10/12/2022

Series A

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$99M

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10

9/7/2022

Series B

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$99M

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10

Date

12/6/2022

11/28/2022

11/8/2022

10/12/2022

9/7/2022

Round

Series B

Series A

Seed VC

Series A

Series B

Company

Osome

Kiln

Fordefi

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Amount

$25M

$17.8M

$18M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

5

20

6

10

10

Illuminate Financial Management Portfolio Exits

5 Portfolio Exits

Illuminate Financial Management has 5 portfolio exits. Their latest portfolio exit was dv01 on September 13, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/13/2022

Corporate Majority

$99M

3

4/19/2022

Corporate Majority

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$99M

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10

7/15/2021

Acq - Fin

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$99M

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10

3/8/2021

Acquired

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$99M

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10

8/13/2019

Acquired

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$99M

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10

Date

9/13/2022

4/19/2022

7/15/2021

3/8/2021

8/13/2019

Exit

Corporate Majority

Corporate Majority

Acq - Fin

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

10

10

10

10

Illuminate Financial Management Fund History

5 Fund Histories

Illuminate Financial Management has 5 funds, including Illuminate Financial Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/27/2022

Illuminate Financial Fund III

3

3/17/2021

Illuminate Financial Fund II

$99M

10

12/31/2015

IFM Fintech Opportunities LP

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$99M

10

11/10/2015

IFM Fintech Opportunities Fund

10

IFM Fintech Opportunites

10

Closing Date

5/27/2022

3/17/2021

12/31/2015

11/10/2015

Fund

Illuminate Financial Fund III

Illuminate Financial Fund II

IFM Fintech Opportunities LP

IFM Fintech Opportunities Fund

IFM Fintech Opportunites

Fund Type

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Status

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Amount

$99M

$99M

Sources

3

10

10

10

10

Illuminate Financial Management Partners & Customers

1 Partners and customers

Illuminate Financial Management has 1 strategic partners and customers. Illuminate Financial Management recently partnered with Singapore Exchange on November 11, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

11/29/2022

Partner

Singapore

Illuminate Financial Announces Strategic Partnership with SGX Group to Advance Asia-Pacific FinTech…

In connection with the partnership , Singapore Exchange will become a limited partner in Illuminate Financial Management 's latest venture capital strategy , which backs early-stage FinTech and enterprise software companies globally driving innovation in the financial services industry .

1

Date

11/29/2022

Type

Partner

Business Partner

Country

Singapore

News Snippet

Illuminate Financial Announces Strategic Partnership with SGX Group to Advance Asia-Pacific FinTech…

In connection with the partnership , Singapore Exchange will become a limited partner in Illuminate Financial Management 's latest venture capital strategy , which backs early-stage FinTech and enterprise software companies globally driving innovation in the financial services industry .

Sources

1

Illuminate Financial Management Team

4 Team Members

Illuminate Financial Management has 4 team members, including current Founder, Managing Partner, Mark Beeston.

Name

Work History

Title

Status

Mark Beeston

Founder, Managing Partner

Current

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Name

Mark Beeston

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Work History

Title

Founder, Managing Partner

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Status

Current

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