Tot in a €2 million seed founding round from Banca Sella

Tot, a Milan, Italy-based startup building a banking platform for small and medium companies, announced that it finalised a €2 million ($2.3M) seed founding round.

The money was raised from investors from Italy, including from Banca Sella.

Tot, founded in 2020 by CEO Bruno Reggiani, Doris Messina and Andrea Susta, is working for the development of a digital bank aiming to help SMEs. The company is yet to launch its services, which should include an account, and digital banking, credit and payments services on top of administrative financial tasks, monitoring and managing expenditure, collections, earnings, and tax provisioning. Tot says that In Italy it is trageting a universe of 821,000 micro-enterprises (with up to ten employees) and over five million self-employed with VAT numbers.