Fiscozen secures €3M Series A Round
March 16th, 2020
We’re excited to lead the Series A in Fiscozen, a startup that has developed an online tax management platform, with the mission of simplifying the life of over three million freelancers and individual businesses in Italy.
Born in Milan at the end of 2017 from an idea of Fabio Ciotoli and Enrico Mattiazzi, supported by Vito Lomele (former founder of Jobrapido), Fiscozen makes digital tax management possible through an online platform, offering general assistance and consulting service with the support of specialized tax consultants. The service, accessible on www.fiscozen.it, is entirely digital and includes invoicing, accounting, payment protocols, pension, tax forecasts, and tax returns. The platform is based on a freemium business model and offers numerous solutions that meet the diverse needs of the varied world of freelancers.
The so-called “Partite IVA,” i.e., self-employed workers, represent a significant slice of the Italian labor market: the percentage of total employment is 22%, well above the EU average of 14% (Eurostat data referring to 2018). Various categories of workers are part of this universe: registered professionals, shop owners, artisans, digital nomads. It is precisely from this market opportunity that Fiscozen was born, aiming to help freelancers with tax and bureaucracy, saving time and energy for their business activity.
The choice to invest in Fiscozen well responds to our investment thesis, which is to identify entrepreneurial initiatives characterized by a strong management team and aimed at digitizing sectors still little affected by technological innovation. In partnering with Fiscozen, we see an opportunity to help build a smarter and more flexible way of managing tax complexities – a fully digital tax management platform that can be a game-changer for freelancers and individual businesses.
We are thrilled to welcome Fiscozen into our portfolio and work alongside Fabio, Enrico, and Vito. A very determined team that can certainly play a leading role in the disruption of the tax sector in Italy.
UV2’s investment in Fiscozen is also supported by the European Investment Fund through InnovFin Equity, with financial backing from the European Union under the financial instruments of Horizon 2020 and the European Fund for Strategic Investments (“EFSI”) established under the Investment Plan for Europe. The purpose of EFSI is to support the financing and implementation of productive investments in the European Union and ensure greater access to finance.