Spenmo Partners YC-Backed Companies to Better Help Startups Scale in Southeast Asia

SINGAPORE, 24 August 2022 – Singaporean expense management startup Spenmo is partnering with four other Y Combinator-backed companies to help other startups streamline their workflows.

Running a startup with a lean team can be a tall ask — employees are stretched thin and often have to take on multiple roles, even in other aspects of business they are less familiar with. This could result in inefficiencies at work, leading to wasted time and resources.

In a single year, repetitive tasks can cause businesses to lose up to 19 working days per employee. On top of that,U.S. businesses burn US$1.8 trillion annually by paying workers for tasks that could easily be streamlined. Singapore’s startups are no exception.

Startups around Southeast Asia are now finding more ways to streamline their processes to address inefficient and siloed workflows caused by manual work. As a solution to this, automation tools have become more popular and accessible even to small and medium businesses (SMBs). 

The YC Partnership, backed by Silicon Valley-based startup accelerator Y Combinator, consolidates five services into a single package, and is now available for a limited time and special price. The package aims to help startups simplify complicated work processes, which, if not dealt with, could spell doom for the company.

1. Spenmo

Spenmo is an all-in-one payables software that provides businesses with the comfort, control and visibility over how, when and why money is leaving the company. It consolidates smart cards, multi-currency dashboards, automated bill pay and employee reimbursement into one sleek interface. 

2. QuotaBook

QuotaBook helps startups with their very first step in managing equity and ownership through its simplified cap table management features, as well as financing simulation and shareholder communications. Startups can also utilize QuotaBook to better incentivize employees by digitalizing every process of stock option contracting and management.

3. Deskimo

Deskimo lets hybrid companies manage their workspaces, granting access to quality offices all over Singapore, Hong Kong, and Indonesia. 

4. Deel

Deel, an employee and contractor management system, makes cross-border hiring easy for startups, by automating onboarding, EOR, Global Payroll, and compliance. Hire independent contractors and full-time employees without hassle and hurdles.

5. Circular

Circular is a tech subscription platform that allows companies to issue tech equipment to their employees, giving them access to the devices they need in a sustainable and affordable manner.