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FidoCommercialista Closes a 1.2 Million Euro Round

FidoCommercialista secures a €1.2 million round to streamline bureaucracy for VAT numbers and entrepreneurs in Italy. The funding, including investors like 40Jemz Ventures and X-Equity Venture Club, enables the startup to lead in Italy’s market and optimize resources. Founded in 2020, it offers fully digital tax services, targeting individuals and various business entities, with plans for product development, team expansion, and market consolidation.




FidoCommercialista, a startup that deals with simplifying the bureaucracy and taxation of VAT numbers and entrepreneurs, has closed a 1.2 million euro round.

“The capital injection has allowed us, in addition to having the necessary resources to aim to become a leader in Italy, also to acquire the know-how to optimize them,” declared Nicola and Filippo Primieri, co-founders of FidoCommercialista. Among the investors, 40Jemz Ventures, X-Equity Venture Club, i3Charter (both under the strategic advisory of FNDX), Alecla7 and Vesper.

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Who is FidoCommercialista aimed at?

Founded in 2020 from an idea by Nicola (29 years old, CMO) and Filippo Primieri (27 years old, CTO) with the aim of transforming the firm of his accountant father Luca (CEO) in a digital key, FidoCommercialista has developed a fully digital solution to open and manage a business in Italy regardless of the tax regime.

The platform provides online tax services for individuals in any tax regime, including small entrepreneurs, startups, joint-stock companies and non-profit associations. In 2023, the proptech startup reports having exceeded one million transactions on the platform.

“Our mission is to simplify the bureaucracy to open and manage a business in Italy and help entrepreneurs with daily taxation so as to make the relationship with the accountant quick and transparent,” said Luca Primieri , co-founder and CEO of FidoCommercialista . The startup also raised capital from Invitalia, through the Smart & Start call , and participated in the round of the founder of GELLIFY and FNDX, Fabio Nalucci.

The next steps of FidoCommercialista

Now the next steps are product development, team expansion, consolidation on the Italian market, investments in automation and digitalization of the platform to simplify the work and daily activities of accountants. For the startup this is a first strategic round.

“We will invest heavily in the automation of processes, so as to minimize the low added value activities carried out by accountants to allow them to concentrate on consultancy and high added value activities,” said Filippo Primieri , CTO of FidoCommercialista. The new capital will also serve to increase marketing activities and expand the team, aiming to hire new resources.


(Featured image by Towfiqu barbhuiya via Unsplash)

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First published in StartupItalia . A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Valerie Harrison is a mom of two who likes reporting about the world of finance. She learned about the value of investing at a young age upon taking over her family's textile business when she was just a teenager. Valerie's passion for writing can be traced back to working with an editorial team at her corporate job, where she spent significant time working on market analysis and stock market predictions. Her portfolio includes real estate funds, government bonds, and equities in emerging markets such as cannabis, artificial intelligence, and cryptocurrencies.