Sibill funding news – Milan-based Sibill Raises €6.2 Million in Funding

The money, which was raised in two tranches, will help Sibill achieve its goal of becoming the top FinOps platform for small and medium-sized businesses in Italy, which is the largest SMB market in Europe.

It, which entered the market 18 months ago, currently supports thousands of SMBs in Italy and has had a topline growth of more than 10 times in the past year. A full range of functions offered by the programme facilitate the administration of cash flow, e-invoicing, payment scheduling, and end-of-month reconciliation.

Read also - Gireve funding news – Paris-based Gireve Secures €20 Million in Funding

Sibill greatly lessens the administrative load and saves important time and money for both SMBs and their accountants by facilitating more seamless collaboration between the two parties.

Due to the requirement for all B2B and B2G invoicing flows to be digital, the Italian market is distinct and has significant opportunities for a system like Sibill's to service over 4 million Italian enterprises.

Due to the legislative landscape and the sheer number of SMBs, it has a significant chance to upend an industry that is now dominated by established players who are underserving the SMB market.

Mattia Montepara, CEO and co-founder of Sibill said, “Sibill was born to disrupt a huge market that’s lacked proper innovation for years. We saw a huge opportunity for modern software to disrupt the FinOps market and for Sibill to become the Italian champion. Taking over the biggest SMB market in Europe is a challenging and exciting task well worth dedicating our efforts to,”.

Briehan Burke, General Partner at Keen Venture Partners said, “Keen Venture Partners is thrilled to back the Sibill team on their quest to simplify the financial operations of Italian SMBs. With such strong uptake and growing customer count, it’s clear their tech meets a critical need and helps small businesses to thrive in an increasingly digital world,”.

About Sibill

Sibill, a company founded in 2021, provides an integrated, all-in-one solution to help SMBs in Italy meet their unique needs. The platform is easy to use and allows users to accomplish more with less resources. With the help of this fresh finance, it hopes to expand its value proposition for SMBs by launching new products and services that will streamline and expedite the work that accountants perform for their clientele.