F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S.
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S. - overview
Established
1999
Location
Istanbul, -, Turkey
Primary Industry
Software
About
F. I. T. Bilgi Islem Sistemleri Serv.
San. Ve Tic. A. S.
delivers advanced tax compliance solutions, specializing in continuous transaction monitoring and regulatory reporting for diverse global clients across numerous industries. F. I. T.
Bilgi Islem Sistemleri Serv. San. Ve Tic. A.
S. was founded in 1999 and is headquartered in Istanbul, Turkey, providing tax determination and compliance solutions. The company is part of a strategic acquisition by Sovos Compliance LLC, completed in 2019. The founders include Calin Voina, Ephraim Ebstein, and Joel Richey, with CEO roles held by Al Fisher and Ephraim Ebstein.
The company has engaged in 3 funding deals, with the most recent funding round being a Series B in May 2019, raising USD 5. 00 mn led by International Finance Corporation, alongside investments from Endeavor Catalyst and Revo Capital. The total amount raised by the company is USD 5. 00 mn.
F. I. T. Bilgi Islem Sistemleri Serv.
San. Ve Tic. A. S.
specializes in comprehensive tax solutions, including the Compliance Cloud, VAT and Financial Reporting tools, VAT Determination services, and Global e-Invoicing applications. Their offerings support a diverse clientele, including Fortune 500 companies, across more than 70 countries. The company is backed by nearly 100 regulatory specialists managing compliance in over 19,000 tax jurisdictions, streamlining processes for businesses to adapt to changing regulations efficiently. F.
I. T. Bilgi Islem Sistemleri Serv. San.
Ve Tic. A. S. operates primarily on a subscription-based revenue model, partnering with B2B clients to provide tailored compliance solutions.
Clients can access various service packages, including flexible credit bundles, allowing them to navigate complex tax scenarios while minimizing compliance risks. The firm's extensive customer base across various sectors reinforces its role as a reliable partner for tax compliance services. Following the completion of a significant acquisition in May 2019, F. I.
T. Bilgi Islem Sistemleri Serv. San. Ve Tic.
A. S. is positioned for growth through the introduction of new products and services tailored to emerging market demands. The company aims to expand into new geographical regions, with specific targets identified for growth, backed by the resources acquired from the recent funding.
The funding raised will be allocated to enhance product development and expand operational capabilities, ensuring the company remains competitive in the evolving compliance landscape.
Current Investors
Hg, Sovos Compliance, LLC, Revo Capital
Primary Industry
Software
Sub Industries
Email, Accounting/Finance Software
Website
www.foriba.com
Verticals
Cloud Computing
Company Stage
Add-on
Total Amount Raised
Subscriber access only
F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S. | - |
Displaying 1 - 1 of 1
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.