Tot, an Italian fintech startup serving freelancers and micro-enterprises, has finalised a €2 million seed founding round from Banca Sella ahead of market entry in early 2022.
Tot will offer an account, and digital banking, credit and payments services to help small businesses keep on top of administrative financial tasks, monitoring and managing expenditure, collections, earnings, and tax provisioning.
In Italy, Tot is trageting a universe of 821,000 micro-enterprises (with up to ten employees) and over five million self-employed with VAT numbers.
Tot’s three founders are Doris Messina, current chief digital transformation officer of Banca Sella; Bruno Reggiani, former country manager Italy of Penta; and Andrea Susta, formerly in the digital marketing team of Fabrick.
Says Messina: "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.”