Sibill, an Italian payments platform, secures €6.2M

Milan-based fintech startup, Sibill, has successfully secured €6.2 million in funding to accelerate the development of its advanced payments platform. This funding, raised in two tranches, signifies a strong vote of confidence from the investor community in Sibill’s vision and capabilities.

Sibill, launched in 2023, offers a comprehensive software suite designed to streamline various financial operations for small and medium-sized businesses (SMBs). The platform includes tools for e-invoicing, cashflow management, payment scheduling, and end-of-month reconciliation. By integrating these functionalities, Sibill aims to facilitate smoother cooperation between SMBs and their accountants, thereby enhancing financial efficiency and transparency.

The Italian market presents a unique opportunity for Sibill due to its mandatory digital invoicing requirements for all B2B (business-to-business) and B2G (business-to-government) transactions. This regulatory environment creates a substantial demand for Sibill’s solutions, providing a solid foundation for the company to serve over 4 million Italian companies. The digitization mandate acts as a powerful tailwind, propelling the adoption of Sibill’s innovative financial tools.

The recent funding round saw participation from notable investors, including Keen Venture Partners, Founders, and Exor Ventures. This influx of capital will be pivotal in further developing Sibill’s platform and expanding its market reach. The backing from such esteemed investors underscores the potential and promise that Sibill holds in transforming financial operations for SMBs.

Mattia Montepara, CEO and co-founder of Sibill, expressed enthusiasm about the company’s mission and the significant market opportunity. “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,” said Montepara. His statement reflects a bold vision to revolutionize the financial operations landscape for Italian SMBs through modern, efficient, and user-friendly software solutions.

Keen Venture Partners’ General Partner, Briehan Burke, highlighted the strong market response to Sibill’s offering. “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,” remarked Burke. This endorsement from Keen Venture Partners emphasizes the strategic fit of Sibill’s technology in addressing the specific needs of the market.

With the secured funding, Sibill is well-positioned to enhance its platform further and scale its operations. The focus will likely be on refining the existing features, integrating more advanced capabilities, and expanding its customer base within Italy and potentially beyond. The company’s commitment to innovation and customer-centric solutions will drive its growth and establish it as a key player in the fintech space.

Sibill’s recent funding milestone marks a significant step forward in its journey to transform the financial operations of SMBs in Italy. With robust support from investors and a clear market need for its solutions, Sibill is poised to make a substantial impact.

The company’s innovative approach and dedication to simplifying financial processes for SMBs underscore its potential to lead the fintech revolution in Italy. As it continues to develop and expand, Sibill’s success will not only benefit its customers but also contribute to the broader digitization and efficiency of the Italian business ecosystem.