WithLess funding news – Milan-based WithLess Raises €3 Million in Funding

Businesses nowadays are thought to squander between 20 and 35 percent of their software budget, frequently by purchasing redundant or completely unnecessary technologies. It can take CFOs and administrators of numerous SMEs up to three months a year to manage costs, recover invoices, and reconcile budgets.

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However, a lot of businesses still don't have a reliable system in place to keep track of how acquired tools are being used, which leaves CFOs in the dark. Without centralised oversight, different departments buy software at modest costs, assuming no financial impact.

Tiziana Cannone, CFO of UnoBravo said, "Thanks to WithLess, we quickly identified dozens of underutilised or unnecessary software tools, saving a considerable amount through their service."

Gianluca Treu, founder and CEO of WithLess, commented: "To launch WithLess, we started with the team. Together with Thomas Alisi (co-founder) and our advisor Davide Dattoli (founder of Talent Garden), we selected talents with experience in unicorn companies such as Adyen and Revolut. With this round, the goal is to continue strengthening this exceptional team to build a sales force capable of conquering the Italian market and expanding into Europe. The new resources will also be crucial in making our AI system even more advanced, leveraging valuable feedback from our customers."

The fundraising was headed by Primo Ventures, with participation from B-Heroes, Yabeo, Apside, Zest and Intesa Sanpaolo's 50/50 joint venture, Zest and Fondazione Compagnia di San Paolo via the AI accelerator Magic Mind, and other angel investors.

Niccolò Sanarico, General Partner and CTO of Primo Ventures, added: "If it’s 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 to this need. We chose to invest in a team that impressed us with its competence and strong ambition. We are happy to support the founders in their growth journey, including ESG-related issues, by helping WithLess mitigate risks and seize opportunities linked to both financial and environmental sustainability."

Enrica David, Senior Director of Intesa Sanpaolo and President of the Apside Investment Committee, emphasised: “The investment in WithLess is strategic for its ability to reduce software costs and revolutionize corporate procurement. Through its innovative use of artificial intelligence, the platform optimizes resources and improves operational efficiency. WithLess stands out for its capability to transform administrative management, addressing the needs of modern businesses with a perspective in line with ESG objectives”.

The money will be used to build the team strategically and assist with the product's commercial launch in Italy, Spain, Germany, and France.

About WITHLESS

WITHLESS manages payments, keeps tabs on app usage, and does away with administrative tasks. WithLess is a platform for managing software used by finance teams to optimise expenses and organise procurement procedures with artificial intelligence. It saves money and time by giving CFOs back control over payments.