Tax-tech firm Fonoa raises $110M Series C and acquires PwC's Indirect Tax Edge for real-time compliance platform
By
Cristian Dina
A second-rack bagel that's nearly first-rack. Tasty stuff.
Summary
Fonoa, a Dublin-based tax-tech company, has raised $110 million in a Series C funding round led by Headline, while simultaneously acquiring PwC's Indirect Tax Edge software. The company is betting that governments worldwide are moving toward real-time transaction monitoring, making periodic tax compliance obsolete. The funding and acquisition are positioned as a unified strategy to build a real-time compliance platform for indirect taxes.
Key quotes
· 3 pulledIndirect tax is the kind of problem most people never think about until a government decides to watch every transaction in real time.
That is now happening across much of the world, and Fonoa has just raised $110 million and bought a piece of PwC on the strength of it.
The company announced both moves together, framing them as one bet rather than two.
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