SG-based corporate services firm nets $3.5m in Monk’s Hill-led round

Singapore-based Starboard, a platform that helps companies set up operations and expand globally, has hauled in US$3.5 million in a pre-series A round led by Monk’s Hill Ventures and joined by Actium Partners and Iterative Capital.

Starboard founder and CEO Melvin Yuan / Photo credit: Starboard

Starboard offers a corporate services platform for incorporation, compliance, accounting, and financial management, among others. It mainly caters to companies based in the US and Singapore, according to a statement.

Founded by Melvin Yuan in 2020, Starboard said its main strategy has been to roll up smaller corporate service providers with existing portfolios of clients and help them fast-track their growth.

According to the company, there are 2,000 traditional corporate service providers – or those that still use pen-and-paper processes – in Singapore alone that serve more than 290,000 SMEs.

Starboard plans to use the new capital to expand its engineering, operations, and customer success teams. The company also set up operations in Silicon Valley to better aid companies in Singapore and Southeast Asia that aim to expand to the West.

Other investors in the round include:

• Lyte Ventures general counsel Bruno Poh
• Eu Yan Sang International CFO Lelaina Lim
• UOB executive director Michael Tor
• Soh Gin Wee
• Sulyana Binte Abdul Aziz
• Terrence Hoon