Flatfee (Flateecorp.com), a managed marketplace connecting global small to mid-sized global sellers with legal and administrative professionals closed a $900K round led by KungHo Fund (https://www.KungHo.com) and Bixin Ventures (https://bixinvc.com/). The financing will provide important funds as Flatfee prepares for its upcoming seed round.
With this investment, Flatfee will solidify its first mover advantage providing a managed marketplace for comprehensive compliance services to small to mid-sized e-commerce sellers and app developers competing in the global market. “We look forward to building on the rapid growth Flatfee experienced in 2022 as it becomes the market leader in global intellectual property planning, remote entity formation and compliance for underserved global entrepreneurs.”
Samsun Yu, an expert on cross-border intellectual property practitioner, will be joining the company as a director to facilitate such efforts.
In a little over one year, Flatfee has expanded into 18 countries, with customer service provided in four languages, and completed close to 2,500 orders after its initial launch. Due to the strong demand in cross-border operation among e-commerce sellers and application developers, Flatfee’s sales grew an average of 20% each month of 2022. They discovered a lucrative market for integrated compliance solutions for small to mid-sized global entrepreneurs.
KungHo Fund’s CEO and founder George Kung commented that his firm’s investment thesis for Flatfee is the rapid growth of global online sellers. Kung Ho Fund believes that Flatfee’s ability to integrate and manage professional and international service teams will make it an important player to meet the compliance needs of those global sellers.
Overseas Operation Services Inc., the operating entity of flatfeecorp.com, was formed in 2022 and focuses on prepackaged professional services to cross-border enterprises.
KungHo Fund is a venture fund formed in June 2022 as the U.S. arm of Zino Ventures, a New Zealand based venture capital firm. The fund focuses on early investments in artificial intelligence, e-commerce and bio-technology.
Bixin Venture invests in early-stage infrastructure projects that cultivate and facilitate mass adoption of open finance through permissionless and decentralized networks.