A-Cube, an API-first RegTech platform specialising in automated digital tax compliance, has closed a €4m funding round led by Italian venture capital firm P101 SGR, with participation from FinTech and financial services investor Sella Direct Ventures.
P101 SGR led the investment and will provide strategic operational support as A-Cube enters its next phase of development. Sella Direct Ventures, which also joined the round, will open its global network to the company to help accelerate its scale-up.
The capital will be used to advance the technological development of A-Cube’s platform, including the integration of artificial intelligence models. Additional funds will go towards expanding the product suite into areas adjacent to digital tax reporting, helping multinational businesses manage compliance across complex, multi-jurisdictional regulatory environments.
Founded in 2018, A-Cube offers an API-first platform for end-to-end management of tax and document flows, linking business systems, financial institutions and public administrations within a single interoperable architecture. The platform enables real-time handling of electronic invoicing, e-reporting and compliance processes across varied regulatory contexts. Since 2019, it has processed more than 70 million invoices, serves upwards of 450 customers across more than 10 countries and connects 120,000 entities.
The raise comes as European regulators push towards greater digitalisation of tax processes. The introduction of the VIDA (VAT in the Digital Age) directive — projected to generate more than €110bn in additional VAT revenue over the coming decade — alongside the continued rollout of continuous transaction control models, is accelerating the adoption of e-invoicing and real-time tax reporting. A-Cube intends to use this environment as a springboard to transition beyond a compliance platform into a broader technology layer for Integrated Digital Trade, bringing together tax, financial and operational data across the full administrative cycle.
For P101 SGR, this marks its second RegTech investment, following its backing of Aptus AI in 2023, and its 15th transaction through Programma 103, Azimut Eltif Venture Capital P103 and Programma 103R Digital. Programma 103 receives support from the European Union via the InvestEU Fund, while Programma 103R Digital is backed by CDP Venture Capital SGR through the Digital Transition – PNRR fund, which draws on resources from the NextGeneration EU initiative to support the digital transition of supply chains and small and medium-sized enterprises.
A-Cube co-founder and CTO Antonino Caccamo said, “Global taxation is undergoing a radical shift, where regulatory changes and technological innovation are converging towards increasingly digital and integrated reporting models. Italy has been a pioneer in this space, particularly with the recent mandates on electronic payments, came into force on 20 April. This trend is now sweeping across Europe, with the VIDA (VAT in the Digital Age) directive set for 2028, real-time tax reporting will gradually become the standard. In this scenario, we want to provide the infrastructure capable of supporting companies through increasingly complex multi-country environments, turning compliance into an integrated and strategic process.”
P101 partner Giuseppe Donvito said, “By investing in A-Cube, we are doubling down on Regtech, a fast-growing and increasingly strategic sector. We will support the company in the new phase of growth, seizing the opportunities associated with the spread of electronic invoicing which, in light of regulatory developments, is projected to be adopted by 90% of European companies by 2030, creating a market valued at over 20 billion euros. At the same time, a profound technological transformation is underway: tax data are becoming strategic assets within new emerging systems that integrate digital tax reporting and digital trade. In this scenario, we will support the product development towards new application areas and A-Cube will be able to evolve into an enabler of financial, tax and operational processes, also via AI integration, bringing greater automation, data quality and predictive capability.”
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