Fonoa, a Dublin-based API-first company that helps high-volume internet marketplaces and merchants automate taxes across the globe, raised $25 Million in Series A to expand our global tax automation platform.
Investors in the round include Index Ventures, OMERS Ventures, FJ Labs, Moving Capital, Gautam Gupta (former COO and CFO at Opendoor and Uber), Kevin Hartz (founder at Eventbrite), Prabir Adarkar (CFO at Doordash), Carlos Gonzalez-Cadenas (former COO at GoCardless), Allison Barr Allen (COO at Fast) and others.
Fonoa currently supports tax automation transactions across 100+ countries today and aims to expand this to over 140 countries by the end of the year.
Company: Fonoa Technologies Ltd.
Raised: $25.0M
Round: Series A
Funding Month: November 2021
Lead Investors:
Additional Investors: Index Ventures, OMERS Ventures, FJ Labs, Moving Capital, Gautam Gupta, Kevin Hartz, Prabir Adarkar, Carlos Gonzalez-Cadenas, and Allison Barr Allen
Company Website: https://www.fonoa.com/
Software Category: Tax automation platform
About the Company: Founded by three Uber alumni - Davor Tremac, Filip Sturman, and Ivan Ivankovic, Fonoa is a technology company that makes tax automation for internet businesses simple. Fonoa is transforming how digital companies including marketplaces, digital service providers, micromobility operators, gig economy platforms, and subscription-based companies stay tax compliant; converting a costly and complex process into an automatic and seamless one. The company provides a plug-and-play modular platform that helps businesses determine and calculate the right amount of tax, in the right place, at the right time. Though Fonoa is headquartered in Dublin, the company has a remote-first approach to business with a distributed team across 14 countries and plans to hire more staff across the US, Europe, Asia, and Latin America in the coming months.
Source: https://www.fonoa.com/about-us/fonoa-raised-series-a