Startup
Fonoa
Global indirect tax automation for digital businesses: tax ID validation, tax determination, e-invoicing and returns across more than 100 countries, built by three former Uber tax and product staff.
| Founded | 2019, Dublin |
|---|---|
| Founders | Davor Tremac (CEO), Filip Sturman, Ivan Ivankovic; all formerly at Uber |
| Stage | Series C |
| Total funding | About $190m |
| Last round | Series C, $110m, May 2026, led by Headline with Eurazeo and Forestay; Index, OMERS, Coatue and Dawn returning. Acquired PwC’s Indirect Tax Edge platform in the same deal. ↗ |
| Earlier rounds | Series B $60m, July 2022; Series A $20.5m, November 2021 |
| What it does | API-first tax number validation, VAT and sales tax calculation, e-invoicing and reporting, and returns filing, sold to marketplaces, SaaS and mobility companies |
| Traction | Customers include Uber, Zoom, Lime, Teachable and GoStudent |
| Pricing | Not published; usage-based enterprise contracts |
| Markets | Global; Europe, US, Latin America, Asia |
| Peers | Avalara, Vertex, Sovos, Anrok, Sphere |
Why it matters
Fonoa raised $110 million in May 2026 and bought PwC’s indirect tax platform in the same transaction, the first time an independent tax startup has absorbed a Big Four product. With $190 million raised it is Europe’s best-funded tax technology company and a direct challenger to Avalara and Vertex.
Updated September 2026.
Part of Accountio’s accounting technology coverage.
