Sibill, a startup specializing in softwareas a service (SaaS) solutions for the accounting and financial management of SMEs, announces that it has raised capital to 6.2 million euros, thus confirming the goodness of its business model and the team’s ability to attract the attention and investments in Italy also of international operators.
Founded by Mattia Montepara (CEO), Lorenzo Liguori (chief product officer) and Dario Prencipe (chief data officer), with the new transaction Sibill sees a new international fund join its shareholders: Keen Venture Partners, which joins the already existing investors Exor Ventures, Founders AS, Global Founders Capital, Not Boring, Banana Capital, Plug&Play Tech Center, as well as several Italian and foreign business angels.
Investors are convinced not only by Sibill’s mission and strategy, but also by the execution and performance that over time demonstrates its ability to transform great market potential into concrete and measurable growth. Coming from different and consolidated experiences in the fintech sector, the founders of Sibill have set themselves the goal of making available to the market a collaborative tool, capable of solving the numerous accounting and administrative needs of Italian SMEs starting from the removal of internal barriers, simplifying the flows and processes of communication and collection of information between the entrepreneur or top management and the administrative department, as well as barriers to the outside, speeding up interaction with accountants who can thus focus on their value-added activities.
In summary, with Sibill, electronic invoicing, schedule management, planning and cash control activities are carried out faster and with greater automation and, thanks to the SaaS mode of use, in addition to a limited investment, companies can count on a constantly updated tool that guarantees the security of the data managed.
The value of the proposal and its concrete ability to make business processes more efficient and faster is also clearly reflected in the numbers of the startup which, as a SaaS solution, in April 2024 saw the value of recurring revenues (ARR) increase 11 times compared to April 2023. With a customer growth trend of more than 11% month-over-month, the startup already serves thousands of SMBs, which has quintupled in the last 12 months.
Mattia Montepara, CEO and co-founder of Sibill, says in a note: “For me and the whole team it is an honor and a great satisfaction to see that our project continues to attract the attention and trust of so many important investors, including international ones. The resources raised will help us, thanks to the growth boost that we will be able to give both in terms of the development of the platform and the commercial network, to achieve our ultimate goal: to contribute in some way to the competitiveness of the country. We firmly believe that freeing up the time of entrepreneurs and top figures of SMEs, which represent the backbone of the Italian economy, means allowing them to focus on growth strategies and among the major values of our solution we are certainly recognized for the ability to streamline and simplify flows, freeing up precious time and resources”.
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