Fonoa founders Davor Tremac, Filip Sturman, Ivan Ivankovic. Image: Fonoa
Fonoa, the Dublin-founded tax technology company, has raised $110m and acquired PwC’s indirect tax compliance platform, Indirect Tax Edge.
Dublin-based tax technology company Fonoa has closed a $110m Series C funding round and announced the acquisition of PwC’s Indirect Tax Edge platform, in what marks a significant step for one of Ireland’s most ambitious fintech companies.
The funding round was led by Headline, with new investors Eurazeo and Forestay Capital joining existing backers Index Ventures, OMERS, Coatue, and Dawn Capital.
Fonoa was founded by three former Uber alumni, and the experience of navigating sprawling, real-time tax requirements across global markets was very much the inspiration behind building the company. Today, the platform supports tax determination across more than 190 jurisdictions, validates tax IDs in over 100 countries, and processes more than a billion transactions annually. Clients include Canva, Netflix, Uber, and Booking.com, with some reporting up to 90pc faster tax calculation since switching to the platform, according to Fonoa.
