Italy-based Fiscozen picks up €8M to eliminate ‘tax bureaucracy’ in Italy

Milan, Italy-based Fiscozen, a tax software platform, announced on Wednesday that it has raised €8M in a Series A round of funding led by Keen Venture Partners and United Ventures. 

The fintech company says it will use the funds to expand its team and launch more upmarket products. In January, the company plans to launch a new product to cater to all individual businesses – from lawyers to digital workers to small shop owners.

The announcement comes a couple of years after raising €3M in early 2020.

The Founders, Enrico Mattiazzi and Vito Lomele, say, “We believe technology needs to have an impact on improving people’s lives. We work to eliminate bureaucracy to help entrepreneurs succeed in their projects. In doing so, we make Italy an efficient and competitive nation that values the talent and initiative of people.”

Fiscozen: What you need to know

Founded in 2018 by Enrico Mattiazzi and Vito Lomele, Fiscozen aims to eliminate tax bureaucracy in Italy and be the go-to tax advisory software provider.

The company’s software allows sole proprietors to file tax returns and electronic invoices with just a few clicks. Fiscozen also offers a dashboard where they can access their future tax obligations and deadlines, as well as access to real-time advisors for any questions or clarifications.

Since its inception, the company has witnessed exponential growth. As per the company’s claims, it has grown its customer count by 10X and works with thousands of customers. 

Investor

Keen Venture Partners is a venture capital firm that backs European tech companies from Seed to Series B. 

Based in Amsterdam and London, Keen invests through a thesis-driven approach, formulating investment ideas based on fundamental trends in specific technology areas. To date, the VC has supported 20+ startups and scaleups across Europe.

Briehan Burke, Partner at Keen, says, “We’re delighted to support Enrico, Vito, and the Fiscozen team on their mission. With a proven go-to-market and a strong mission to eliminate red tape for Italian SMEs, we believe this exceptional team has what it takes to become a market leader and disrupt the way taxes are handled in Italy.”

United Ventures is an independent Italian venture capital firm that manages €300M raised from Italian and international institutional investors. The VC has invested in over 25 technology companies, including Entando, Young Platform, and Deliveristo. 

Paolo Gesess, Partner at United Ventures, says, “We’re so inspired by what the team has accomplished to date and are equally proud to support the company’s future path.”