# F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/f-i-t-bilgi-islem-sistemleri-serv-san-ve-tic-a-s

- Industry: Software
- Headquarters: Istanbul, Turkey
- Website: www.foriba.com
- Total disclosed funding: $5M
- Latest round: Series B (Feb 12, 2018)
- Investors on record: 3

## About

F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S. delivers advanced tax compliance solutions, specializing in continuous transaction monitoring and regulatory reporting for diverse global clients across numerous industries.F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S. was founded in 1999 and is headquartered in Istanbul, Turkey, providing tax determination and compliance solutions. The company is part of a strategic acquisition by Sovos Compliance LLC, completed in 2019. The founders include Calin Voina, Ephraim Ebstein, and Joel Richey, with CEO roles held by Al Fisher and Ephraim Ebstein. The company has engaged in 3 funding deals, with the most recent funding round being a Series B in May 2019, raising USD 5.00 mn led by International Finance Corporation, alongside investments from Endeavor Catalyst and Revo Capital. The total amount raised by the company is USD 5.00 mn.F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S. specializes in comprehensive tax solutions, including the Compliance Cloud, VAT and Financial Reporting tools, VAT Determination services, and Global e-Invoicing applications. Their offerings support a diverse clientele, including Fortune 500 companies, across more than 70 countries. The company is backed by nearly 100 regulatory specialists managing compliance in over 19,000 tax jurisdictions, streamlining processes for businesses to adapt to changing regulations efficiently.F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S. operates primarily on a subscription-based revenue model, partnering with B2B clients to provide tailored compliance solutions. Clients can access various service packages, including flexible credit bundles, allowing them to navigate complex tax scenarios while minimizing compliance risks. The firm's extensive customer base across various sectors reinforces its role as a reliable partner for tax compliance services.Following the completion of a significant acquisition in May 2019, F.I.T. Bilgi Islem Sistemleri Serv. San. Ve Tic. A.S. is positioned for growth through the introduction of new products and services tailored to emerging market demands. The company aims to expand into new geographical regions, with specific targets identified for growth, backed by the resources acquired from the recent funding. The funding raised will be allocated to enhance product development and expand operational capabilities, ensuring the company remains competitive in the evolving compliance landscape.

## Funding rounds

- Series B, Feb 12, 2018, $5M — International Finance Corporation, Endeavor Catalyst, Revo Capital

## Investors

- International Finance Corporation — Series B
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series B
- Revo Capital (https://capitalatlas.ai/funds/revo-capital) — Series B