Fintech
Milanese fintech startup Sibill obtains 6.2 million euros to automate financial operations for Italian SMEs
Based in Milan Sibyla tool that simplifies the financial activities of small and medium-sized enterprises (SMEs), announced that it has raised €6.2 million in a new round of funding led by Passionate venture capital partners with the participation of the Founders and Exor Ventures.
This financing, raised in two tranches, will help Sibill become the “leading” financial operations platform for SMEs in Italy, which has the largest number of SMEs in Europe.
Use of capital
The Sibill platform is created specifically for Italian small and medium-sized enterprises (SMEs). It provides a complete solution to help SMBs achieve more with fewer resources.
With the new funding, Sibill aims to add more features and services, making the platform even more valuable to SMEs. These improvements will also speed up and simplify the work accountants do for their clients.
Mattia Montepara, CEO and co-founder of Sibill, states: “Sibill was born to revolutionize a huge market that for years has lacked adequate innovation. We saw a huge opportunity for modern software to revolutionize the FinOps market and for Sibill to become the Italian champion”.
“Conquering the largest SME market in Europe is a challenging and exciting task that is worth dedicating our efforts to.”
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Manage company 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 enterprises (SMEs) in Italy.
It offers a full suite of tools that automate and simplify tasks such as electronic invoicing, cash flow management, payment scheduling, and month-end reconciliation. This helps businesses save time and resources, allowing them to focus on growth and success.
Since launching 18 months ago, Sibill says it has expanded rapidly. It now serves thousands of Italian SMEs and has achieved a more than 10x increase in revenue 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 excited to support the Sibill team in their quest to simplify the financial operations of Italian SMEs”.
“With such strong adoption and a growing customer base, it’s clear that their technology fills a critical need and helps small businesses thrive in an increasingly digital world.”