Milan-based fintech startup Sibill secures €6.2M to automate financial operations for Italian SMBs
Milan-based Sibill, a tool that makes financial tasks easier for small and medium businesses (SMBs), announced that it raised €6.2M in a fresh round of funding led by Keen Venture Partners with participation from Founders and Exor Ventures.
This funding, raised in two tranches, will help Sibill work towards becoming the “leading” financial operations platform for SMBs in Italy, which has the most SMBs in Europe.
Capital utilisation
Sibill’s platform is created specifically for Italian small and medium businesses (SMBs). It provides a complete solution to help SMBs accomplish more with fewer resources.
With the new funding, Sibill aims to add more features and services, making the platform even more valuable for SMBs. These enhancements will also speed up and simplify the work accountants do for their clients.
Sibill CEO and co-founder Mattia Montepara says, “Sibill was born to disrupt a huge market that’s lacked proper innovation for years. We saw a huge opportunity for modern software to disrupt the FinOps market and for Sibill to become the Italian champion.”
“Taking over the biggest SMB market in Europe is a challenging and exciting task well worth dedicating our efforts to.”
Managing corporate treasury more easily
Founded in 2021 by Mattia Montepara, Dario Principe and Lorenzo Liguori, Sibill is a platform designed to simplify financial operations for small and medium-sized businesses (SMBs) in Italy.
It offers a complete suite of tools that automate and streamline tasks like e-invoicing, cashflow management, payment scheduling and end-of-month reconciliation. This helps businesses save time and resources, allowing them to focus on growth and success.
Since its launch 18 months ago, Sibill claims to have expanded rapidly. It now serves thousands of Italian SMBs and has achieved a more than 10x increase in topline growth over the past year. The company claims to be able to serve over 4 million Italian companies.
Briehan Burke, General Partner at Keen Venture Partners, says, “Keen Venture Partners is thrilled to back the Sibill team on their quest to simplify the financial operations of Italian SMBs.”
“With such strong uptake and growing customer count, it’s clear their tech meets a critical need and helps small businesses to thrive in an increasingly digital world.”
