Fonoa Technologies Ltd.

Fonoa Technologies Ltd. provides a specialized tax automation platform for the digital economy, facilitating seamless compliance with real-time tax regulations across various jurisdictions for businesses. Fonoa Technologies Ltd. was founded in 2019 and is headquartered in Dublin, Ireland.

The company specializes in tax automation solutions that help businesses comply with tax regulations globally. Co-founders Filip Sturman and Ivan Ivankovic have a background in technology and entrepreneurship. The company has raised a total of USD 60 mn in funding, with the latest Series B round completed on May 5, 2022, led by Coatue Management and participated by Dawn Capital, FJ Labs, Index Ventures, Karman Ventures, and OMERS Ventures. Fonoa offers a modular tax engine that enables accurate calculations of sales tax, VAT, and GST, as well as e-invoicing and tax reporting solutions.

These products integrate seamlessly with existing financial and operational systems, allowing businesses, particularly in e-commerce and SaaS, to automate indirect tax processes and ensure compliance in over 190 countries and U. S. states. For the year 2022, Fonoa reported a revenue of USD 1,908,846.

10, with an EBITDA of USD -25,156,553. 90, indicating ongoing investment in growth and product development. Fonoa's recent Series B funding in May 2022 will be utilized to accelerate growth, develop new products, and expand globally. The company is focused on launching advanced solutions aimed at enhancing tax compliance capabilities and is exploring entry into additional international markets by the end of 2023.