WithLess, a startup that eliminates waste of time and money in the acquisition and management of business software, announces that it has obtained a three million euro investment from Primo Ventures, as lead investor, through the Primo Digital and Primo Digital Parallel Italia funds, and from Yabeo, Apside, the 50/50 joint venture set up by Intesa Sanpaolo and Zest, Zest and Fondazione Compagnia di San Paolo through the Magic Mind accelerator, B-Heroes and other angel investors. The round is aimed at the commercial launch of the product in Italy, Spain, Germany and France, and the strategic expansion of the team.
It is estimated,’ says the start-up in a note, ‘that companies today waste between 20 per cent and 35 per cent of their software budgets, often paying for duplicate or completely unused tools. CFOs and directors of many SMEs can waste up to one and a half months per year, busy catching up on invoices, reconciling budgets and tracking expenses. As of 2022, the number of software and subscription services used by companies has doubled, and is expected to quintuple by 2028 (source: Statista).
Despite this growth, many companies still lack an effective system to monitor the use of purchased tools, leaving CFOs without a clear view. In the absence of centralised supervision, departments purchase software without considering its economic impact, believing that costs are low. However, these subscription services often have variable costs and, in the absence of constant monitoring, companies end up paying for unused tools, with expenses that could easily be redirected to other investments.
Against this backdrop, WithLess, the software management platform for finance teams, was born. It harnesses artificial intelligence to optimise costs and structure procurement processes, returning control of payments to CFOs and preventing both cost and time losses.
WithLess is already being used by the most innovative Italian tech companies such as MotorK, Qomodo, SmartPricing, UnoBravo, which have seen enormous benefits:
Simone Colla, head of finance MotorK says in the note: “Automation and integration are key aspects of our business, and having a SaaS expense management platform like WithLess, which can do the same in-house for us, is fantastic. Definitely a good investment, which has paid for itself in no time.”
Luca Rodella, CEO of SmartPricing adds: “In a fast-growing start-up, it is easy to lose control of expenses. WithLess has helped us to delegate payments while maintaining control.”
Tiziana Cannone, CFO of UnoBravo: “Thanks to WithLess, in a short time we identified dozens of software not fully used or not needed, and saved a considerable amount of money thanks to their service.”
WithLess simplifies administration and saves more than 30 per cent of the costs associated with software in use and restructures procurement in three steps: discover: WithLess connects to the company’s systems and, thanks to its AI, maps the software used, tracking usage and organising the data into a dashboard where the CFO can monitor the number of software purchases, costs incurred and actual usage by employees; control: WithLess returns control of payments to the finance team and prevents unwanted debits by providing an unlimited number of prepaid cards and structuring software purchases with an AI-managed budget approval process; and save: WithLess helps companies save time and money by generating alerts, automating payment-related paperwork and offering on-demand support services for software selection and renegotiation
Gianluca Treu, founder and CEO of the company, comments: ‘To launch WithLess, we started with the team. Together with Thomas Alisi (co-founder, pictured with Treu, ed.) we selected talent with experience in unicorn companies such as Adyen and Revolut. With this round, the aim is to continue strengthening this exceptional team to build a sales force capable of conquering the Italian market and expanding in Europe. The new resources will also be instrumental in making our AI system even more advanced, taking advantage of the valuable feedback from our customers”.
Niccolò Sanarico, general partner and CTO of Primo Ventures, adds: “If it is true that, as many say, ‘software is eating the world’, then we need simple and effective solutions to govern and manage it. WithLess answers exactly this need. We chose to invest in a team that impressed us with its competence and strong ambition. We are happy to be able to support the founders in their growth path also with regard to ESG issues, supporting WithLess in a path aimed at mitigating risks and seizing opportunities related to environmental as well as financial sustainability’.
Enrica David, senior director of Intesa Sanpaolo and chair of Apside’s investment committee, emphasises: ‘The investment in WithLess is strategic for its ability to revolutionise corporate procurement. Through the innovative use of artificial intelligence, the platform optimises resources and improves operational efficiency. WithLess stands out for its ability to revolutionise administrative management, responding to the needs of modern enterprises with a view in tune with ESG issues’.
Gabriele Ronchini, CEO of Zest Investments and vice chairman of Apside’s investment committee says: “Investing in WithLess means embracing the future of AI applied to fintech, where artificial intelligence is not just a tool, but a driver of change. In a world where efficiency and sustainability are crucial, WithLess stands out as an innovative solution that optimises costs and fights waste, aligning itself with the needs of a modern, conscious economy’.
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