SG’s Spenmo joins 4 YC alums to help SEA startups scale

Spenmo, a Singapore-based expense management platform, has teamed up with four other Y Combinator-backed startups as part of the YC Partnership initiative.

The program consolidates the services of the five startups, aiming to help businesses streamline their work processes.

Spenmo founder and CEO Mohandass Kalaichelvan / Photo credit: Spenmo

According to a 2021 study, repetitive tasks can cause firms to lose up to 19 working days per employee each year. In addition, businesses in the US waste US$1.8 trillion annually to pay workers for duties that could be easily streamlined.

To remedy this, the startups’ alliance provides services in five different but interlinked areas, namely finance, asset management, workplace administration, human resources, and ecommerce.

Here are the five startups that are part of the YC Partnership initiative:

Spenmo offers an all-in-one platform for the management of account payables, which enables companies to track when, where, and how their money is spent. It was part of Y Combinator’s Summer 2020 cohort.

Korea-based QuotaBook lets businesses control their equity and employee incentives through its cap table management solution. It was part of YC’s Winter 2021 batch.

Singapore-headquartered Deskimo helps hybrid workplaces get access to over 40 office locations where they can pay at a per-minute rate. It was among the startups in YC’s Summer 2021 batch.

US-based Deel makes cross-border hiring easy for startups by providing an automation system that includes onboarding, employee management, payroll, and compliance. It participated in YC’s Winter 2019 cohort.

Circular, which is based in Singapore and Australia, offers a subscription platform that lets businesses issue tech devices to their employees in a sustainable and affordable way. It is the most recent YC alum of the group, being part of its Winter 2022 cohort.

See also: Capital SEA: Southeast Asia’s funding landscape