Tax technology provider Fonoa has raised $110 million in a Series C funding round and acquired PwC’s Indirect Tax Edge platform as the company looks to build a unified infrastructure layer for global tax compliance and reporting.
The funding round was led by Headline, with participation from Eurazeo, Forestay Capital, and existing investors including Index Ventures, OMERS, Coatue, and Dawn Capital.
Fonoa said the new capital will support continued investment in its AI-powered tax platform, expand engineering capabilities, and help meet growing enterprise demand for automated compliance infrastructure.
Alongside the funding, the company confirmed the acquisition of PwC’s Indirect Tax Edge platform, which is used by multinational businesses for VAT and GST compliance, tax analytics, regulatory reporting, and e-filing.
The transaction significantly expands Fonoa’s capabilities and positions the company to offer a more comprehensive approach to indirect tax management.
Historically, many enterprises have relied on multiple vendors and disconnected systems to manage tax determination, invoicing, reporting, and filing requirements. Fonoa aims to consolidate these workflows into a single platform that connects tax calculations, e-invoicing, compliance reporting, and regulatory submissions through a unified data architecture.
The company currently processes more than one billion transactions annually and supports tax determination requirements across more than 190 jurisdictions worldwide.
According to Fonoa, the acquisition comes at a time when governments are rapidly adopting digital tax administration frameworks. The number of countries requiring digital tax reporting has increased significantly over the past decade, driven by expanding e-invoicing mandates, real-time reporting requirements, and increasingly complex cross-border compliance obligations.
By integrating Edge into its existing platform, Fonoa plans to provide continuous traceability between individual transactions and final regulatory filings, reducing manual processes and improving compliance accuracy.
PwC will continue to use the platform as part of its indirect tax reporting and advisory services, while Fonoa assumes responsibility for product development and future platform expansion.
The company believes tax management is evolving from periodic reporting processes toward real-time, transaction-level compliance embedded directly within enterprise operations.
As digital commerce continues to expand globally, Fonoa is positioning itself as a foundational infrastructure provider for automated tax determination, compliance, e-invoicing, and regulatory reporting.
Founded in 2020, Fonoa serves multinational enterprises across digital commerce, fintech, software, and marketplace sectors, helping businesses manage tax obligations across increasingly complex regulatory environments.
