Backing Sibill: Our first Italian Investment

Italy is a nation of small businesses, more than any other country in Europe. In fact, the 3.9m Italian SMEs account for roughly two thirds (65%) of GDP, forming the backbone of the Italian economy.

When it comes to managing their finances, however, they largely suffer from clunky, legacy software. The vast majority of Italian SMEs either still use spreadsheets to manage their accounts or have ancient software sitting on servers that is extremely cumbersome to update and maintain. Managing cash flow can be a real challenge across multiple bank accounts and business owners are spending valuable time on admin that could be spent running their business.

The combination of large addressable market and legacy incumbents represents an ideal opportunity for disruption - introducing Sibill.

Sibill has built an all-in-one finance platform for Italian SMEs that offers a vastly superior user experience to local legacy operators. By integrating bank accounts, e-invoicing, reconciliation and AP/AR management, Sibill automates manual tasks, providing real-time visibility of incoming and outgoing cash, helping businesses save time, keep their accounts organized and make fast, accurate decisions. 

Customers love it with high levels of daily and weekly active usage and very low levels of churn. Founders Mattia, Dario and Lorenzo have built an incredible banking and invoicing infrastructure, providing the foundations to underpin future products. Sibill has already embedded AI into its offering, ie. automating reconciliations, and by becoming the financial OS for SMEs, it will be able to leverage financial data to further unleash the huge potential of AI.

The Accountants Friend

With this new capital, Sibill plans to expand its product with new functionality designed specifically with accounting firms in mind. By automating activities such as data collection, purchase recording and bank reconciliation, Sibill will allow thousands of accountants across Italy to close their clients’ books faster, freeing up more time for higher value-added services. 

Fintech is very much part of our DNA at Creandum and especially SME fintech ranging from Tide, the leading small business bank in the UK, to Billie, offering buy now, pay later for b2b payments, to Pleo, Europe’s leading expenses management platform, through to mid-size market finance platforms like Rillet (ERP), Abacum (financial planning) and Embat (treasury). We see huge potential in Sibill to become Italy’s leading finance & accounting platform, helping their customers to be more productive and competitive.