Fonoa is a global tax automation platform that provides an API for validating tax IDs, calculating taxes, generating compliant invoices, and filing tax returns across more than 100 countries. The platform addresses the complexities of ever-changing tax regulations and the lack of standardized reporting solutions for internet companies, ensuring accurate compliance and streamlined tax management.
Funding
$89.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Global businesses face the challenge of navigating complex and constantly evolving indirect tax regulations across numerous countries. The lack of standardized connections for digital reporting and e-invoicing, coupled with multiple sources of tax information, creates inefficiencies and increases the risk of non-compliance.
Solution
Fonoa offers a global tax automation platform that simplifies indirect tax compliance for businesses operating internationally. Through a single API, the platform enables users to validate tax IDs, calculate applicable taxes, generate compliant invoices and e-invoices, report transactions, and file tax returns in over 100 countries. Fonoa provides a single source of truth for tax data, ensuring businesses have full control and visibility over their global tax landscape while remaining up-to-date with the latest regulatory changes.
Target Audience
Fonoa primarily serves global businesses, including marketplaces, digital content providers, software companies, and travel and tourism operators, that require automated solutions for managing indirect tax compliance.
Features
- Tax ID validation: Instant validation of VAT, GST, and other tax IDs through official country databases.
- Tax calculation: Accurate tax calculation based on the latest regulations.
- E-invoicing compliance: Adherence to e-invoicing standards across various countries.
- Compliant tax invoice generation: Automated creation of tax invoices that meet local requirements.
- Tax return submission: Error-free tax return filing.
- Data-sharing compliance: Adherence to data-sharing regulations worldwide.