Tax automation firm Fonoa expands its AI-driven platform with PwC’s VAT compliance system and secures fresh funding.
Fonoa has acquired PwC’s Indirect Tax Edge platform, integrating its VAT and GST reporting, e-filing, and analytics tools into its AI-based tax operating system. The deal aims to create a unified system for multinational tax compliance and automation, with PwC retaining access for its consulting services.
Edge serves global corporations handling transactional tax data, while Fonoa’s platform focuses on real-time tax operations. The acquisition follows a $110m Series C funding round led by Headline, with participation from Eurazeo, Forestay Capital, and existing investors.
Fonoa CEO Davor Tremac stated the move will enable autonomous tax management, addressing a market historically worth tens of billions globally. The funding will support further development of the combined platform.