• The fintech banking platform finalizes a seed round with Banca Sella as lead investor
• Platform is aimed at around 6 million small companies, professionals and self-employed in Italy

Tot is a new fintech banking platform that aims to digitalize the administrative and financial management for professionals, freelancers, and microenterprises with up to 10 employees, creating efficiency and offering simple planning and control tools. The goal is to free up precious time and give small businesses that are crucial to the economy the access to advanced administration and planning resources they need to help them grow. Tot will allow them to easily monitor and manage their expenditure, collection and earnings, along with the timetable to set aside provisions for taxes, and much more.

The international evolution of the fintech market and regulation has so far affected mainly the payments sector, reshaping the way consumers use financial services. This evolution in now beginning to impact services dedicated to microenterprises and professionals, and Italy’s fintech sector continues to confirm its ability and readiness to seize market opportunities.

The Tot start-up is aimed at microenterprises, which in Italy alone number 821,000 - equal to 79.5% of total companies*. This number, when added to the over 5 million self-employed with VAT numbers**, represents an enormous pool of users that until now has been underserved by traditional financial institutions. Due to the lack of a targeted product offer, these businesses do not yet see digitalization as a priority. As a result, they risk losing efficiency and competitiveness in the medium term.

This strong market potential, combined with the skills and experience of its three founders, has enabled Tot to finalize a first seed funding round for €2 million, led by Banca Sella, ahead of actual market entry, scheduled starting from Italy for early 2022, with the aim to expand in further European countries in the following years.

Tot’s three founders are Doris Messina, current Chief Digital Transformation Officer of Banca Sella; Bruno Reggiani, former Country Manager Italy of Penta; and Andrea Susta, formerly in the Digital Marketing team of Fabrick.

Doris Messina, CEO and Co-Founder of Tot, said: "We are thrilled to have the opportunity to generate added value by bringing services to the market that we hope will quickly contribute to improving the lives of small businesses by supporting their development. We are also happy that Banca Sella, among the most innovative banking operators in Europe, is the first important investor. We are certain that Banca Sella will bring value in terms of vision along with its financial resources.”