Tot is a new banking platform that aims to update the administrative and financial management for professionals, freelancers, and microenterprises with up to 10 employees. Tot says it 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.
Tot is targeting micro enterprises, which in Italy alone number 821,000 – equal to 79.5% of total companies, according to the company. This number, when added to the over 5 million self-employed with VAT numbers, represents a large potential pool of users.
Tot says it will enter the market, starting from Italy, in 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.
Messina, CEO and co-founder of Tot, commented:
“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.”