Fonoa

Summary active Updated May 29, 2026

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Location Dublin, Ireland
Founded 2019
Latest Stage Series C
Total Raised $130M+
Website https://www.fonoa.com/
Sector
fintech taxtech ai enterprise-software compliance vat regtech

Investors

Gautam Gupta 2021 (2021)
William Barnes Moving Capital era (2021)
A* 2021 (2021)
karman-ventures Moving Capital era (2021)
Index Ventures

Founders

Davor Tremac Co-Founder & CEO
Filip Sturman Co-Founder
Ivan Ivankovi Co-Founder

About

Fonoa is a Dublin-based AI tax-operating system founded in 2019 by three Uber alumni — Davor Tremac (CEO), Filip Sturman, and Ivan Ivankovi — that automates global tax compliance, VAT/GST determination, e-invoicing, and reporting for cross-border enterprises 123. Customers include Canva, Uber, Netflix, Nebius, and Booking.com, with some reporting up to 90% faster tax calculation 12. The $110M (€94.4M) Series C announced May 28, 2026 was led by Headline with new investors Eurazeo and Forestay Capital joining existing backers Index Ventures, OMERS, Coatue, and Dawn Capital; Fonoa simultaneously acquired Indirect Tax Edge (Edge), PwC’s global indirect-tax compliance product, bringing the entire indirect-tax lifecycle into a single data model from tax-ID validation through real-time determination, e-invoicing, and return submission 123.

Funding History

Date Round Amount Lead Co-investors
2026-05-28 Series C $110M (€94.4M) Headline Eurazeo, Forestay Capital, Index Ventures, OMERS, Coatue, Dawn Capital 1234

What Investors Say

“Fonoa is leading the shift in tax from a series of disconnected point solutions to a unified operating system.”

— Clarey Zhu, Partner, Headline 4

What Founders Say

“While technology has transformed much of finance, tax systems have remained neglected, leaving accounting teams to manage the same fragmented stack for decades: one vendor for determination, another for e-invoicing, a third for returns, with spreadsheets holding it all together.”

— Davor Tremac, Co-Founder & CEO, Fonoa 4

Sources

  1. EU-Startups, “Dublin’s AI TaxTech startup Fonoa raises €94.4 million Series C and buys PwC’s tax platform,” May 29, 2026. Accessed May 2026. https://www.eu-startups.com/2026/05/dublins-ai-taxtech-startup-fonoa-raises-e94-4-million-series-c-and-buys-pwcs-tax-platform/↩↩↩↩

  2. Yahoo Finance (BusinessWire), “Fonoa Acquires PwC’s Tax Platform and Raises $110M to Build Category-Defining AI Tax System,” May 28, 2026. Accessed May 2026. https://sg.finance.yahoo.com/news/fonoa-acquires-pwcs-tax-platform-190000990.html↩↩↩↩

  3. The Next Web, “Fonoa raises $110M and buys PwC’s tax software to build a real-time compliance platform,” May 28, 2026. Accessed May 2026. https://thenextweb.com/news/fonoa-110m-series-c-pwc-tax-edge↩↩↩

  4. Fonoa company press release, “Fonoa acquires PwC’s tax platform and raises $110M to build category-defining AI tax system,” May 28, 2026. Accessed June 2026. https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge↩↩↩