Sibill, an Italian fintech specialising in solutions that simplify the financial and administrative management of SMEs, announces the closing of a EUR 12 million Series A round led by the European venture capital fund Creandum, with the participation of Keen Venture Partners and other Italian and international business angels. The round is in addition to the EUR 6.7m already raised so far.
Founded in 2021 by Mattia Montepara, Lorenzo Liguori and Dario Prencipe (pictured), Sibill was created to simplify the financial and administrative management of Italian SMEs by centralising invoices, payments, due dates and bank movements in a single platform.
By integrating with banking systems and the Revenue Agency’s Interchange System, Sibill uses artificial intelligence to automate many of the manual tasks related to invoicing and treasury. In this way, it provides a real-time view of income and expenditure, helping businesses to keep their accounts in order and make quick and accurate decisions.
Today, Sibill has more than 2,600 customers throughout Italy, businessmen and women who claim to save on average about five hours per week, and has 50 people in the team, with the intention of reaching 100 by the end of 2025.
Thanks to the capital raised, Sibill is now preparing to expand its market with a new solution, designed to help accountants automate accounting for small and medium-sized enterprises.
By automating tasks such as data collection, bookkeeping entries and bank reconciliation, Sibill will enable thousands of accountancy firms across Italy to close accounts much faster, increasing productivity and reducing operating costs.
In parallel, the team will work on accelerating the further development of the platform, with the introduction of new features to automate tax, supplier and employee payments, allowing them to be completed in bulk without manual entries and risk of errors.
The aim is to make Sibill the reference solution for managing the entire financial and administrative area of Italian SMEs, while maintaining the user-friendliness and intuitive design that have always characterised it.
“This capital increase will allow us to strengthen the development of our platform, introducing new features and building a network of strategic partnerships. All the funds raised will be invested in Italy because we believe there is a huge opportunity there: we know small and medium-sized Italian companies inside out and we are convinced that we can contribute to making them more productive and competitive by offering them an innovative tool like Sibill,” says Mattia Montepara, CEO and co-founder of Sibill, in a note.
“The combination of a large market and an offer that is still not very user-experience-centric represents a huge opportunity for Sibill,” says Johan Brenner, general partner of Creandum. “This is the first investment for us in the Italian market – and I do not doubt that there will be many more in the future. With Sibill, our portfolio is enriched with a promising reality, alongside some of the leading European fintechs such as Spotify, Klarna, Trade Republic, and Lovable.”
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