Ireland’s Fonoa raises $20.5M to help digital-first businesses stay tax compliant as they scale globally – TechCrunch
There are myriad tax pain points that come from selling goods, content or services globally. As the world has seen a surge in cross-border transactions, digital-first businesses face the challenge of understanding and managing global tax and compliance matters as they grow and scale internationally.
Enter Dublin, Ireland-based Fonoa. Founded by three ex-Uber alumni — Davor Tremac, Filip Sturman and Ivan Ivankovic — the two-year-old startup has developed APIs that help digital companies determine and calculate taxes they should collect on their internet sales.
Fonoa, which helps companies like Lime, Uber, Teachable and Zoom stay tax compliant, has raised a $20.5 million in a Series A round as more goods and services are sold online — especially across international markets. Its customers primarily come from the ride-hailing, mobility, food delivery, SaaS and e-commerce industries, and also include subscription businesses.
CEO Tremac says Fonoa’s APIs “easily” integrate with a customer’s existing data so they don’t have to spend hours figuring out tax matters manually. The company has surpassed 300 million tax transactions per year, as demand for its automated offering has grown. As a B2B SaaS operator, the company has “very healthy margins” and has seen 7x revenue growth since December 2020, according to Tremac.
“In the digital world, businesses and customers transact on a global scale. Country borders are no longer a limiting factor, and technology drives global trade at an ever-increasing speed,” he said. “Combined with the increased scrutiny by regulators, dealing with tax matters in a more automated and trusted way has become an ever-more pressing issue.”
The company provides a “plug-and-play modular platform” that it says verifies a buyer and seller’s tax status, calculates the correct tax to charge and creates a locally compliant invoice after a transaction takes place. It also allows for automatic reporting of transactions in real time to a country’s government, where needed.

Image Credits: Fonoa
The COVID-19 pandemic, Tremac said, accelerated Fonoa’s growth “significantly” as it brought online commerce many years forward.
“More sales happening online means more work for us as each online transaction has to have a tax component,” he said.
OMERS Ventures led Fonoa’s Series A financing, which included participation from Index Ventures, FJ Labs and Moving Capital. Index in November of 2020 led its $4.5 million seed round, which was not previously announced. Other backers include Gautam Gupta, former COO and CFO at Opendoor and Uber; Eventbrite founder Kevin Hartz; DoorDash CFO Prabir Adarkar; Carlos Gonzalez-Cadenas, former COO at GoCardless; and Fast COO Allison Barr Allen, among others.
The Uber alumni experienced firsthand how difficult it is to correctly calculate and report taxes to authorities throughout the world. So they set about developing technology that would automate taxes for the entire internet economy.
Fonoa currently supports tax automation transactions across more than 100 countries today and has the goal of expanding to over 140 countries by year’s end with the help of its new capital. It also plans to use the money toward hiring. Although it is based in Dublin, Fonoa — like many other startups these days — is remote-first, with a 60-person distributed team working in 15 countries. It is looking to hire another 60 people in the U.S., Europe, Asia and LatAm across engineering, product, sales, recruiting and operations. The company also plans to use the funds to extend the coverage of current products as well as “build completely new ones,” Tremac said.
“We are using all resources available to double down on growth as the opportunities ahead of us are massive,” he told TechCrunch. “We will keep expanding until we cover all relevant use cases for all of our products across all geographies.”
Hannah Seal, principal at Index Ventures, believes that Fonoa unlocks growth for companies that operate internationally, and would otherwise be “bogged down” by the complexity of national tax regimes.
“This focus on enabling growth, not simply back-office automation, attracted us to Fonoa in the first place,” Seal wrote via e-mail. “Having run Uber in multiple markets, the team has a deep understanding of the challenges of scaling across borders and has developed products that allow companies to add and expand new geographies seamlessly.”
Jambu Palaniappan, managing partner at OMERS Ventures, described Fonoa’s product as “the best and most complete offering in the market.”
“They are focused on the full tax stack from validations to real-time reporting and have put technology rather than consulting at the core of their product,” he wrote via email. “With governments around the world more concerned than ever about compliance, now is the perfect time for Fonoa to build a globally relevant platform.”
thank you so much for this awesome web site me and my class admired this message and sixth sense black hat seo
order levofloxacin 500mg sale buy levaquin generic
buy dutasteride cost celecoxib zofran 8mg pill
buy spironolactone pills fluconazole 200mg usa buy diflucan pill
purchase ampicillin online cheap erythromycin pills erythromycin 250mg canada
fildena online buy sildenafil 50mg pills robaxin order online
suhagra 50mg usa purchase sildalis generic estradiol 2mg without prescription
lamictal pill buy retin cream online order tretinoin without prescription
tadalafil price buy diclofenac 100mg pill voltaren for sale
isotretinoin 10mg over the counter amoxicillin 500mg pills generic zithromax
indocin for sale lamisil generic order amoxicillin generic
tadalafil 40mg price cialis pills for sale female viagra pill
order arimidex for sale Buy viagra no prescription order sildenafil 50mg
cialis 40mg sans ordonnance viagra generique pas cher sildenafil 100mg prix
buy deltasone 10mg pills prednisone over the counter buy viagra 100mg pill
tadalafil generika cialis 20mg generika sildenafil 50mg generika rezeptfrei kaufen
accutane over the counter zithromax 500mg price ivermectin eye drops
buy generic doxycycline 100mg clomiphene us furosemide pills
buy generic altace 5mg astelin online buy astelin canada
buy catapres online cheap spiriva over the counter tiotropium bromide pills
purchase buspar generic buy amiodarone 200mg online cheap order ditropan 2.5mg generic
terazosin tablet buy leflunomide 10mg generic buy generic azulfidine
alendronate 70mg pill order panadol for sale pepcid pill
buy benicar without prescription order depakote 250mg without prescription acetazolamide 250mg uk
buy generic prograf ursodiol 150mg pills buy urso online cheap
buy isosorbide 20mg online purchase azathioprine pill order telmisartan
order bupropion without prescription quetiapine 100mg generic seroquel cheap
order molnunat generic buy cefdinir 300 mg without prescription order prevacid online cheap
zoloft tablet Price viagra guaranteed viagra overnight delivery usa
buy salbutamol 100mcg generic purchase protonix order viagra 100mg pill
cheap tadalafil online Cialis order sildenafil citrate 50 mg
generic cialis canada brand phenazopyridine 200mg symmetrel 100 mg tablet
revia us abilify 30mg us abilify 20mg generic
dapsone 100mg oral perindopril for sale online buy perindopril 4mg online
provera 5mg drug cost provera 10mg order cyproheptadine 4 mg generic
order modafinil for sale modafinil 200mg us ivermectin goodrx
fluvoxamine 100mg tablet duloxetine 20mg pills order generic glipizide 5mg
order isotretinoin 10mg online cheap prednisone 5mg cheap buy prednisone 40mg sale
cost nootropil 800 mg brand sildenafil 50mg viagra 50mg pills
azithromycin sale gabapentin 100mg usa order neurontin 800mg online cheap
tadalafil uk cheap sildenafil pills order sildenafil 100mg sale
order furosemide 100mg pills brand furosemide 40mg plaquenil cheap
buy cialis 10mg sale brand betamethasone anafranil brand
aralen cost baricitinib sale purchase baricitinib generic
buy generic itraconazole tindamax order online buy tindamax
glucophage 1000mg ca cialis sales order tadalafil 20mg online
buy olanzapine pills buy valsartan 160mg pills buy diovan 80mg pill
amlodipine 5mg for sale norvasc 10mg pills cialis price
zyvox 600 mg sale that roulette parx casino online
omeprazole tablet cheap paper writing free poker online
metoprolol 100mg without prescription order tenormin online vardenafil 20mg drug
essays online to buy buy a term paper online poker games
vardenafil sale levitra 10mg brand medrol 16 mg without prescription
buy an essay online cheap dissertation help sildenafil pills 200mg
clomiphene 100mg for sale clomiphene for sale free roulette games
cialis 20mg canada tadalafil 10mg generic brand viagra pills
aristocort 10mg usa order claritin 10mg without prescription buy clarinex 5mg online
priligy online order buy synthroid pill synthroid without prescription
order generic tadalafil 20mg buy viagra 100mg pill buy sildenafil online cheap
cialis 40mg us propranolol cost plavix 150mg cost
purchase methotrexate online methotrexate 10mg drug metoclopramide drug
losartan 50mg over the counter topiramate 200mg tablet topamax 100mg sale
buy sumatriptan generic avodart order online avodart online buy
colchicine 0.5mg pill play poker online gamble poker online
zantac generic order generic celecoxib 200mg celebrex 200mg uk
buy tamsulosin generic buy aldactone 100mg sale aldactone 100mg uk
buy tadalafil 20mg for sale acillin usa buy cipro 1000mg without prescription
oral zocor valtrex 500mg canada order proscar for sale
order metronidazole pills buy trimethoprim online bactrim online buy
diflucan canada viagra sildenafil 150mg sildenafil over the counter
buy keflex 125mg pill buy erythromycin 500mg sale erythromycin 500mg brand
generic cialis india buy generic cialis 20mg buy sildenafil 100mg for sale
cheap ceftin 250mg robaxin us order robaxin 500mg generic
play slots online tadalafil 10mg tablet tadalafil 20mg tablet
buy trazodone 100mg online trazodone 50mg us cost aurogra 100mg