A-Cube, an API-first digital tax compliance platform, has secured a €4m investment round led by Italian venture capital firm P101 SGR, with participation from specialist FinTech investor Sella Direct Ventures.
P101 SGR led the funding and will also provide strategic operational support as the company enters its next phase of development. Sella Direct Ventures, which focuses on FinTech and financial services technologies, joined the round and will make its global network available to support A-Cube’s expansion. The capital will be directed towards technological development of its platform, including the integration of artificial intelligence models, and towards building out solutions adjacent to digital tax reporting to serve the compliance needs of multinational businesses operating across multiple jurisdictions.
Founded in 2018, A-Cube operates an API-first platform that manages tax and document flows end-to-end, connecting business systems, financial institutions and public administrations through a single interoperable architecture. The platform enables real-time handling of electronic invoicing, e-reporting and compliance processes across differing regulatory environments, ensuring scalability and operational continuity. Since 2019, it has processed over 70 million invoices, serves more than 450 customers across more than 10 countries, and connects 120,000 entities.
The investment arrives as European regulatory pressure around digital tax continues to build. The upcoming VIDA (VAT in the Digital Age) directive, due in 2028, is expected to make real-time tax reporting the norm, and is projected to generate over €110bn in additional VAT revenue over the following decade. Electronic invoicing is forecast to be adopted by 90% of European companies by 2030, creating a market valued at over €20bn. Against this backdrop, A-Cube intends to transition from a compliance platform into a broader technology layer for what it calls Integrated Digital Trade, enabling the consolidation of tax, financial and operational data and greater automation across administrative processes.
For P101, this transaction marks its second RegTech investment, following its stake in Aptus AI in 2023, and its 15th deal through its Programma 103, Azimut Eltif Venture Capital P103 and Programma 103R Digital vehicles. Programma 103 is backed in part by the European Union through the InvestEU Fund, while Programma 103R Digital receives support from CDP Venture Capital SGR through the Digital Transition – PNRR fund, which draws on NextGenerationEU resources to support the digital transformation of supply chains and SMEs.
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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