Milan-based Sibill, a fintech focused on financial and administrative management for SMEs, has closed a €12M Series A funding round.
The investment was led by European venture capital fund Creandum, with participation from Keen Venture Partners and several Italian and international business angels.
This round brings the Italian fintech company’s total funding to €18.7M. Previously, in June 2024, Sibill secured €6.2M.
Simplifying administrative and financial management
Founded in 2021 by Mattia Montepara, Lorenzo Liguori, and Dario Prencipe, Sibill provides a platform for the financial and administrative management of small and medium-sized businesses.
The platform centralises invoices, payments, and deadlines, integrates banking cashflows and the Agenzia delle Entrate’s exchange system, and uses AI to automate manual tasks.
Sibill serves more than 2,600 clients across Italy, with users reporting time savings of over 5 hours per week. The company employs over 50 people and plans to expand its team by the end of 2025.
Capital utilisation
Sibill will use the funds to expand its market reach by launching a solution tailored for accounting firms. This solution will automate key processes such as data collection, purchase recording, and bank reconciliation, allowing accountants to manage the books of SMEs more efficiently.
As a result, firms will be able to close accounts faster, reduce operational costs, and allocate resources to other business areas or services.
Additionally, Sibill will invest in the ongoing development of its platform. Planned features include automation of payments to tax authorities, suppliers, and employees, with support for bulk processing to reduce manual work and minimise errors.
Overall, the funding will support Sibill’s aim to become the primary platform for financial and administrative operations for Italian SMEs, while continuing to focus on usability and system functionality.
Mattia Montepara, CEO and co-founder of Sibill, says, “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.”
Brief about the lead investor
Founded in 2003, Creandum is a pan-European early-stage VC firm. Its portfolio includes over 150 companies across various industries, such as Spotify, Klarna, Depop, Trade Republic, Pleo, and neo4j. One out of every six companies in the portfolio has reached a valuation of $1B or more.
Speaking on the latest development, Johan Brenner, General Partner at Creandum, says, “The combination of large market size and legacy incumbents offering a poor user experience creates a massive opportunity for Sibill. 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.”
Creandum’s advisory teams operate from offices in Stockholm, London, Berlin, and San Francisco, supporting companies from seed stage through to exit.
