Fonoa is building a global tax operating system for the internet economy. As businesses sell across borders, they face a sprawling, ever-changing web of tax rules: different VAT and GST regimes, e-invoicing mandates, and reporting requirements in every market. Fonoa automates this complexity with AI, handling tax determination, tax ID validation, e-invoicing, and reporting through a unified platform that scales with transaction volume.
The scope of Fonoa's coverage is a core strength. The platform supports tax determination across more than 190 jurisdictions, validates tax IDs in over 100 countries, powers e-invoicing for millions of sellers, and processes more than a billion transactions annually. Its client roster, including Canva, Uber, Netflix, Nebius, and Booking.com, reflects how Fonoa serves exactly the kind of high-volume, borderless digital platforms whose tax obligations are most punishing to manage manually.
Fonoa was founded in 2019 by three former Uber executives, Davor Tremac, Filip Sturman, and Ivan Ivankovic. The company was born directly out of their operational frustrations managing tax and compliance for a hyper-growth, global platform, an origin that gives Fonoa deep firsthand insight into the problem it solves.
In 2026, Fonoa raised €94.4 million (about $110 million) in a Series C and simultaneously acquired Indirect Tax Edge (Edge) from PricewaterhouseCoopers (PwC), a notable move that brings established enterprise tax determination capabilities into Fonoa's AI-native platform. The round was led by Headline and included new investors Eurazeo and Forestay Capital, alongside existing investors Index Ventures, OMERS, Coatue, and Dawn Capital.
The acquisition of a PwC tax platform alongside a nine-figure raise signals Fonoa's ambition to become the default tax infrastructure layer for global commerce, combining startup-grade automation with enterprise-grade tax content and reach.