Sibill Secures €12 Million in Funding to Enhance Financial Solutions for SMEs

Milan-based Sibill, a fintech company focused on simplifying financial and administrative management for small and medium-sized enterprises (SMEs), has successfully closed a funding round of €12 million.

Funding Round Details

The funding round was spearheaded by the European Capital Creandum Fund, with contributions from Keen Venture Partners and a variety of both Italian and international angel investors. This latest capital injection brings the total funding raised to €6.7 million, bolstering Sibill’s commitment to improving financial solutions for SMEs.

Strategic Growth Plans

“This capital increase will allow us to strengthen the development of our platform, introduce new features, and create a network of strategic partnerships to support our growth,” stated Mattia Montepara, CEO and co-founder of Sibill. “All funds will be invested in Italy, where we see a huge opportunity. We understand the challenges and potentials of Italian SMEs and believe that—with the right tools—they can increase productivity and competitiveness.”

About Sibill

Founded in 2021 by Mattia Montepara, Lorenzo Liguori, and Dario Prencipe, Sibill centralizes invoices, payments, and deadlines in a single platform to streamline financial and administrative tasks for Italian SMEs. By incorporating banking cash flows and the ENDE ENTEDE exchange system, Sibill employs AI technology to automate routine manual tasks, offering businesses real-time visibility of cash flows.

Impact on Italian SMEs

Currently, Sibill serves over 2,600 customers across Italy, allowing entrepreneurs to save an average of five hours each week on administrative tasks. With a workforce of over 50 employees, the company aims to double its team size by the end of 2025 to cater to the growing demand for its services.

Future Innovations and Features

With the new capital, Sibill plans to broaden its market reach by launching innovative solutions specifically designed for accountants. By automating processes like data collection, purchase recording, and bank reconciliation, Sibill enables accounting firms to expedite their workflows, ultimately reducing operational costs while increasing productivity.

Long-Term Vision for Sibill

As part of its long-term strategy, Sibill aims to enhance its platform functionality by introducing automated tax management features for both suppliers and employees. The goal is to minimize manual entries and the associated risk of errors, making it an essential tool for managing the entire financial landscape of Italian SMEs while prioritizing ease of use and an intuitive design.