FidoCommercialista announces that it has closed a € 1.2 million financing round between equity and debt.
The startup aims to simplify the bureaucracy and daily taxation of VAT numbers and entrepreneurs by supporting them to open and manage a business in Italy. “This round represents an important result for us, as it allows us to have the resources to scale the Italian market for online tax services. We are revolutionizing the way we provide advice to Italian entrepreneurs,” Nicola Primieri, co-founder and CMO of FidoCommercialista, said in a statement.
Several investment funds and angel investors participated in the capital increase for the development of the startup, specifically 40Jemz Ventures, X-Equity Venture Club and i3Charter, both under the strategic advisory of FNDX, and finally Alecla7 and Vesper. In addition to a significant increase in share capital by the above-mentioned funds, FidoCommercialista has raised additional sums from Invitalia through the Smart & Start call. Fabio Nalucci, founder of Gellify and FNDX, also participates in the round.
Team & Market Expansion
This is a first strategic round aimed at product development, team expansion and consolidation of the initial traction to become a leader in Italy in the provision of online professional services to businesses. “We will invest heavily in process automation in order to minimize the low value-added activities carried out by accountants to allow them to focus on consulting and high value-added activities,” says Filippo Primieri, CTO of FidoCommercialista. The new capital will also be used to increase marketing activities and expand the team, aiming to hire new resources.
Founded in 2020 from the idea of Nicola and Filippo Primieri with the aim of transforming the firm of their accountant father Luca, who is now CEO of the startup, into a digital key. In recent years, FidoCommercialista has established itself by developing a completely digital solution to open and manage a business in Italy regardless of the tax regime. In fact, today it is the only platform that provides online tax services for individuals in any tax regime, from small entrepreneurs in the flat-rate regime to startups, corporations and non-profit associations.
“Our mission will continue to be to simplify the bureaucracy to open and manage a business in Italy, to help entrepreneurs in daily taxation so as to make the relationship with the accountant fast and transparent,” concludes Luca Primieri.
“I have always believed that to be successful in a new initiative you need strong knowledge of the sector and business skills; never before have these two characteristics been so essential and I have found them both in FidoCommercialista, a company in which the experience of domination meets the digitization capabilities of the new generation; a perfect mix,” Nalucci points out.
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