Italy's Sibill raises €12m for SME finance platform
Sibill, an Italian fintech specializing in solutions that simplify financial and administrative management for SMEs, announces the closing of a €12 million Series A funding round led by the European venture capital fund Creandum, with participation from Keen Venture Partners and other Italian and international business angels.
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This round adds to the €6.7 million raised so far.
Founded in 2021 by Mattia Montepara, Lorenzo Liguori, and Dario Prencipe, Sibill simplifies the administrative and financial management of Italian SMEs by centralizing invoices, payments, and deadlines in a single platform. By integrating banking cashflows and the Angenzia delle Entrate's exchange system, Sibill leverages AI to automate most manual tasks, providing real-time visibility of cashflow, helping businesses save time, keep their accounts organized, and make fast, accurate decisions.
Active since 2021, the company now serves over 2,600 clients across Italy, helping entrepreneurs save an average of 5 hours per week. With a team of 50+ people, it aims to double in size by the end of 2025.
Expansion to target accountants
With the new capital, Sibill is preparing to expand its target market with the launch of a new solution designed to help accountants automate the accounting management of small and medium enterprises.
By automating activities such as data collection, purchase recording, and bank reconciliation, Sibill will enable thousands of accounting firms across Italy to close their clients' books much faster, increasing productivity and reducing operating costs.
This translates into greater efficiency, more freed-up time, and resources to reinvest in the growth of the accounting firm and the expansion of higher value-added services; for client companies, it means access to their financial statements in real time, rather than weeks or months later.
At the same time, the team will work on accelerating further development of the platform, introducing new features to automate payments of taxes, suppliers, and employees, allowing bulk processing without manual entries or risk of errors.
The goal is to make Sibill the go-to solution for managing the entire financial and administrative area of Italian SMEs, while maintaining the simplicity of use and intuitive design that have always distinguished it.
'This capital increase will enable us to strengthen the development of our platform, introduce new features, and build a network of strategic partnerships to support our growth. All the funds will be invested in Italy, where we see a huge opportunity: we know the reality of Italian SMEs, their challenges and potential, and we believe that — with the right tools — they can become significantly more productive and competitive,' said Mattia Montepara, CEO and co-founder of Sibill.
'The combination of large market size and legacy incumbents offering a poor user experience creates a massive opportunity for Sibill,' said Johan Brenner, General Partner at Creandum. 'This is the first of no doubt many more investments we will make in Italy as the tech ecosystem continues to grow. As part of our portfolio, Sibill joins many of Europe's leading technology firms, including Spotify, Klarna, Trade Republic, Lovable and many more.'
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