Sibill, an all-in-one tool that simplifies and automates financial operations for Italian SMBs, today announced that it has successfully raised €6.2 million from Keen Venture Partners, Founders, and Exor Ventures since founding. The funding was raised across two tranches and will further accelerate Sibill’s mission to become the leading FinOps platform for SMBs in Italy, Europe’s largest market by the number of SMBs.
Launched to the market 18 months ago, Sibill already serves thousands of Italian SMBs and has grown topline more than 10x in the last year. The software provides a comprehensive suite of tools that streamline e-invoicing, cashflow management, payment scheduling, and end-of-month reconciliation. By enabling smoother cooperation between SMBs and their accountants, Sibill significantly reduces administrative burden and saves valuable time and resources for both parties.
The Italian market is unique as all B2B and B2G invoicing flows are required to be digital, providing strong tailwinds for a product like Sibill’s to serve over 4 million Italian companies. This regulatory environment, combined with the sheer volume of SMBs, presents a substantial opportunity for Sibill to disrupt a market currently dominated by large incumbents that are under-serving the SMB market.
“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,” said Mattia Montepara, CEO and co-founder of Sibill.
“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,” said Briehan Burke, General Partner at Keen Venture Partners.
Founded in 2021, Sibill’s user-friendly platform is designed to address the specific needs of Italian SMBs, offering an integrated all-in-one solution to do more, with less. With this new funding Sibill plans to introduce additional features and services, further enhancing its value proposition for SMBs and accelerating and simplifying the work that accountants do for their customers.
