# Fonoa
Fonoa is a Dublin-headquartered tax-automation software company founded in 2019 that provides an API-first platform for global indirect tax, covering tax determination, tax ID validation, e-invoicing, and automated return filing for digital-first businesses. In May 2026 it raised a $110 million Series C led by Headline and acquired the Indirect Tax Edge compliance system from PricewaterhouseCoopers, bringing its total funding to just over $190 million.[1](https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge) • [2](https://www.fintechfutures.com/m-a/fonoa-acquires-pwc-edge-raises-110m-series-c)
| Fact | Detail |
|---|---|
| Founded | 2019, Dublin, Ireland, by Davor Tremac, Filip Sturman, and Ivan Ivankovic[3](https://techcrunch.com/2021/11/22/irelands-fonoa-raises-20-5m-to-help-digital-first-businesses-stay-tax-compliant-as-they-scale-globally/) |
| Sector | Tax automation for global indirect tax (VAT, GST, sales tax)[4](https://techcrunch.com/2022/07/21/fonoa-raises-60m-to-automate-tax-compliance-and-calculations-for-global-companies-like-uber-and-zoom/) |
| Total funding | Just over $190 million[2](https://www.fintechfutures.com/m-a/fonoa-acquires-pwc-edge-raises-110m-series-c) |
| Series C | $110 million (€94.4 million), led by Headline, May 28, 2026; valuation not disclosed[1](https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge) • [5](https://thenextweb.com/news/fonoa-110m-series-c-pwc-tax-edge) • [6](https://www.eu-startups.com/2026/05/dublins-ai-taxtech-startup-fonoa-raises-e94-4-million-series-c-and-buys-pwcs-tax-platform/) |
| Notable investors | Headline, Index Ventures, OMERS Ventures, Coatue, Dawn Capital, Eurazeo, Forestay Capital, FJ Labs, Moving Capital[1](https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge) • [4](https://techcrunch.com/2022/07/21/fonoa-raises-60m-to-automate-tax-compliance-and-calculations-for-global-companies-like-uber-and-zoom/) |
| Customers | Canva, Uber, Netflix, Nebius, Booking.com, Zoom, Lime, Teachable[1](https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge) • [3](https://techcrunch.com/2021/11/22/irelands-fonoa-raises-20-5m-to-help-digital-first-businesses-stay-tax-compliant-as-they-scale-globally/) |
| Status | Active and independent as of May 2026[7](https://www.siliconrepublic.com/start-ups/dublins-fonoa-raises-110m-and-snaps-up-pwc-tax-platform) |
## Founding and founders
Fonoa was founded in Dublin in 2019 by three former Uber employees: Davor Tremac, Filip Sturman, and Ivan Ivankovic. The company says the founders set out to help businesses navigate real-time tax requirements as they scale across markets.[3](https://techcrunch.com/2021/11/22/irelands-fonoa-raises-20-5m-to-help-digital-first-businesses-stay-tax-compliant-as-they-scale-globally/) • [6](https://www.eu-startups.com/2026/05/dublins-ai-taxtech-startup-fonoa-raises-e94-4-million-series-c-and-buys-pwcs-tax-platform/) Tremac serves as chief executive, and Sturman as chief product officer.[5](https://thenextweb.com/news/fonoa-110m-series-c-pwc-tax-edge) • [4](https://techcrunch.com/2022/07/21/fonoa-raises-60m-to-automate-tax-compliance-and-calculations-for-global-companies-like-uber-and-zoom/)
Early backers included operators from the founders' network: Gautam Gupta, former COO and CFO at Opendoor and Uber; [Eventbrite](https://www.edgepedia.org/eventbrite) founder Kevin Hartz; DoorDash CFO Prabir Adarkar; [Carlos Gonzalez-Cadenas](https://www.edgepedia.org/carlos-gonzalez-cadenas), former COO at GoCardless; and Fast COO Allison Barr Allen.[3](https://techcrunch.com/2021/11/22/irelands-fonoa-raises-20-5m-to-help-digital-first-businesses-stay-tax-compliant-as-they-scale-globally/)
## What Fonoa does
Fonoa targets digital services companies operating globally, automating processes involved in managing sales tax, VAT, and GST. Its original product set consisted of separate APIs: tax ID validation synchronized with Europe's VAT Information Exchange System (VIES) and other national databases, tax calculation, and locally compliant invoices for more than 100 countries.[4](https://techcrunch.com/2022/07/21/fonoa-raises-60m-to-automate-tax-compliance-and-calculations-for-global-companies-like-uber-and-zoom/) The company describes its current offering as an AI platform for global indirect tax covering VAT, GST, and sales tax across 100+ jurisdictions, with sub-200ms API response times and configuration without engineering escalation, plus automated return filing connecting the full indirect tax lifecycle.[8](https://fonoa.co/)
The 2022 Series B was intended to move the company from a set of APIs to a comprehensive end-to-end platform with out-of-the-box web interfaces for tax managers.[4](https://techcrunch.com/2022/07/21/fonoa-raises-60m-to-automate-tax-compliance-and-calculations-for-global-companies-like-uber-and-zoom/) The May 2026 acquisition of Indirect Tax Edge (Edge), an indirect tax compliance system used by global enterprises for VAT/GST compliance reporting, e-filing, transactional data management, and tax analytics, extends this: Fonoa says the combination links upstream processes (tax determination, e-invoicing) with downstream compliance reporting and filing on one data model.[1](https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge)
## Funding history
| Round | Amount | Date | Lead and participants |
|---|---|---|---|
| Seed | $4.5 million | November 2020 | Index Ventures (previously unannounced at the time)[3](https://techcrunch.com/2021/11/22/irelands-fonoa-raises-20-5m-to-help-digital-first-businesses-stay-tax-compliant-as-they-scale-globally/) |
| Series A | $20.5 million | November 2021 | OMERS Ventures, with Index Ventures, FJ Labs, Moving Capital[3](https://techcrunch.com/2021/11/22/irelands-fonoa-raises-20-5m-to-help-digital-first-businesses-stay-tax-compliant-as-they-scale-globally/) |
| Series B | $60 million | July 2022 | Coatue, with Dawn Capital, Index Ventures, OMERS Ventures, FJ Labs, Moving Capital[4](https://techcrunch.com/2022/07/21/fonoa-raises-60m-to-automate-tax-compliance-and-calculations-for-global-companies-like-uber-and-zoom/) |
| Series C | $110 million (€94.4 million) | May 28, 2026 | Headline, with new investors Eurazeo and Forestay Capital, and existing investors Index Ventures, OMERS, Coatue, Dawn Capital[1](https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge) • [5](https://thenextweb.com/news/fonoa-110m-series-c-pwc-tax-edge) • [6](https://www.eu-startups.com/2026/05/dublins-ai-taxtech-startup-fonoa-raises-e94-4-million-series-c-and-buys-pwcs-tax-platform/) |
With the Series C, total funding reached just over $190 million.[2](https://www.fintechfutures.com/m-a/fonoa-acquires-pwc-edge-raises-110m-series-c) No valuation was disclosed for the Series C.[5](https://thenextweb.com/news/fonoa-110m-series-c-pwc-tax-edge) The company said the capital will fund indirect tax developments, enhancements to Edge, and building more autonomous, AI-driven intelligence into its compliance platform.[5](https://thenextweb.com/news/fonoa-110m-series-c-pwc-tax-edge) • [2](https://www.fintechfutures.com/m-a/fonoa-acquires-pwc-edge-raises-110m-series-c)
## Business, customers and traction
At Series A in November 2021, Fonoa reported surpassing 300 million tax transactions per year and 7x revenue growth since December 2020. Customers then included Lime, Uber, Teachable, and Zoom, drawn from ride-hailing, mobility, food delivery, SaaS, and e-commerce.[3](https://techcrunch.com/2021/11/22/irelands-fonoa-raises-20-5m-to-help-digital-first-businesses-stay-tax-compliant-as-they-scale-globally/) By the July 2022 Series B, the company said it had doubled headcount to 130 people across 20 countries and grown revenue sevenfold in 2021.[4](https://techcrunch.com/2022/07/21/fonoa-raises-60m-to-automate-tax-compliance-and-calculations-for-global-companies-like-uber-and-zoom/)
By May 2026, the company said it supports tax determination across more than 190 jurisdictions, validates tax IDs in more than 100 countries, powers e-invoicing for millions of sellers, and processes more than 1 billion transactions annually. Its clients include Canva, Uber, Netflix, Nebius, and [Booking.com](https://www.edgepedia.org/booking-com), with some reporting up to 90% faster tax calculation since switching, according to Fonoa. Silicon Republic, reporting the figures, attributes them to the company.[7](https://www.siliconrepublic.com/start-ups/dublins-fonoa-raises-110m-and-snaps-up-pwc-tax-platform) • [1](https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge)
## Status and recent developments (2024–2026)
The most significant events on record both date to May 2026: the $110 million Series C announced May 28, and the acquisition of Indirect Tax Edge from PwC for an undisclosed sum. Silicon Republic described the moves as a significant step for one of Ireland's most ambitious fintech companies.[1](https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge) • [7](https://www.siliconrepublic.com/start-ups/dublins-fonoa-raises-110m-and-snaps-up-pwc-tax-platform)
The company is registered in Ireland (Company Number 677236) with its registered office at South Bank House, Barrow Street, Dublin.[8](https://fonoa.co/)
## References
1. Fonoa raises $110M funding and acquires Edge — Fonoa press release. https://www.fonoa.com/company/news/fonoa-raises-110m-funding-and-acquires-edge
2. Fonoa acquires PwC's Edge, raises $110m Series C — FinTech Futures. https://www.fintechfutures.com/m-a/fonoa-acquires-pwc-edge-raises-110m-series-c
3. Ireland's Fonoa raises $20.5M to help digital-first businesses stay tax compliant — TechCrunch, Nov 22, 2021. https://techcrunch.com/2021/11/22/irelands-fonoa-raises-20-5m-to-help-digital-first-businesses-stay-tax-compliant-as-they-scale-globally/
4. Fonoa raises $60M to automate tax compliance for global companies like Uber and Zoom — TechCrunch, Jul 21, 2022. https://techcrunch.com/2022/07/21/fonoa-raises-60m-to-automate-tax-compliance-and-calculations-for-global-companies-like-uber-and-zoom/
5. Fonoa raises $110M and buys PwC's tax software to build a real-time compliance platform — TNW. https://thenextweb.com/news/fonoa-110m-series-c-pwc-tax-edge
6. Dublin's AI TaxTech startup Fonoa raises €94.4 million Series C and buys PwC's tax platform — EU-Startups. https://www.eu-startups.com/2026/05/dublins-ai-taxtech-startup-fonoa-raises-e94-4-million-series-c-and-buys-pwcs-tax-platform/
7. Dublin's Fonoa raises $110m and snaps up PwC tax platform — Silicon Republic. https://www.siliconrepublic.com/start-ups/dublins-fonoa-raises-110m-and-snaps-up-pwc-tax-platform
8. Fonoa — AI platform for global indirect tax (company site). https://fonoa.co/
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*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
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