Fonoa was founded in 2019 by Davor Tremac (CEO) and Filip Sturman (COO), with headquarters in Dublin, Ireland and operations in Zagreb, Croatia. The company has raised over $190 million across multiple funding rounds, including a $110 million Series C in May 2026 led by Headline with participation from Eurazeo, Forestay Capital, Index Ventures, OMERS, Coatue, and Dawn Capital.
In May 2026, Fonoa acquired PwC's Indirect Tax Edge software, which will be integrated into Fonoa's modular tax infrastructure and AI layer. PwC will continue delivering global indirect tax reporting and consulting services through Edge as part of Fonoa's fully integrated tax operating system.
Fonoa is an AI-powered tax operating system designed for global enterprises managing indirect tax obligations. The platform connects the entire indirect tax lifecycle — from tax ID validation and real-time tax determination to e-invoicing and automated return filing — on one unified infrastructure.
Trusted by companies including Canva, Netflix, Spotify, Uber, Zoom, and Booking.com, Fonoa operates across 120+ countries with sub-200ms API response times and accredited government e-invoicing connections. The company processes over a billion transactions annually and maintains 100% customer retention for clients who started in 2025.
The global indirect tax compliance market is expanding rapidly as governments worldwide implement real-time e-invoicing mandates and transaction-level reporting requirements. Tax authorities now expect real-time auditability across borders, creating demand for machine-scale solutions that replace legacy human-scale tools.
Fonoa is positioned to capture this structural shift through its AI tax operating system, which integrates determination, e-invoicing, and filing on one platform. The May 2026 acquisition of PwC's Indirect Tax Edge software and $110M Series C funding led by Headline will accelerate product development and global expansion across 120+ jurisdictions.
Fonoa's primary competitive advantage is its unified data model across the full indirect tax lifecycle, replacing fragmented point solutions with one integrated platform. Unlike competitors that require separate vendors for tax determination, e-invoicing, and returns, Fonoa connects all modules with a single API integration and shared audit trail.
The platform's AI layer automates compliance workflows including anomaly detection, return population, and audit pack assembly. Fonoa's 100% customer retention rate and 97% ease-of-doing-business score on G2 reflect its end-to-end collaboration model and rapid implementation timeline, with clients going live in weeks rather than months.
