FinTech Start Up Tot Has Raised €2 Million in Seed Funding

November 12, 2021 | 2 minutes read

An Italian fintech startup that will help freelancers and micro-enterprises has raised € 2 Million in a seed funding round.

Tot, a FinTech startup that will offer digital banking, credit, payments services, and accounts to aid small businesses has raised € 2Million. The startup will help the businesses in handling their administrative financial tasks, collections, earnings,  and tax provisions.

The company has raised the seed funding from Banca Sella ahead of market entry in the early months of 2022. Tots three founders are Doris Messina , Bruno Reggiani,  and  Andrea Sasta.

Doris Messina stated that she is very excited about the opportunity and hopes that their startup helps in improving the lives of small businesses.

“We are thrilled to have the opportunity to generate added value by bringing services to the market that we hope will quickly contribute to improving the lives of small businesses by supporting their development. We are also happy that Banca Sella, among the most innovative banking operators in Europe, is the first important investor. We are certain that Banca Sella will bring value in terms of vision along with its financial resources.”

Italy is a budding market of small businesses and micro-enterprises. And this startup aims to target  821,000 enterprises (working with 5 to 10 employees).

In the past couple of years, financial services all around the globe have embraced Fintech with open arms. The reason Fintech has become popular is because of its accessibility, universality, convenience, and efficiency. 

In the past couple of years, fintech apps and software are becoming popular among people. And this is also one of the huge reasons that investors are steering their investments towards fintech startups. As the report from Accenture stated that in 2015 alone the value of global investments in Fintech grew 75%.

Fintech no doubt is promoting financial inclusion like it offers low-cost products that cater to the needs of non-bank customers.  In short, bringing effective financial services to consumers and businesses alike.