Participated · Debt Financing · Jan 2026

Carol offers an integrated digital platform that delivers a wide range of healthcare and well-being services to companies for their employee welfare initiatives. Its core solution connects employees with medical, mental-health, and wellness resources through a unified interface, streamlining access to care and preventive services. The company is expanding its capabilities through strategic M&A, having just acquired mental-health provider Mindwork and corporate nutrition service Welfood to deepen its service stack. Management plans to use its newly raised capital to integrate these acquisitions, enrich the product suite, and accelerate commercial growth across its corporate customer base. The dual focus on healthcare delivery and welfare benefits positions Carol to capture rising employer demand for comprehensive health programs. Although no specific revenue or user metrics were disclosed, the fresh funding gives the company additional runway to scale operations and pursue further product enhancements. The latest financing also strengthens Carol’s balance sheet by combining equity and bank debt.

Participated · Series A · Sep 2025

Tot is an online platform for company administrative and financial management that offers a business account with an Italian IBAN, payment and collection services, physical and virtual cards, integrated administrative tools, and collaborative team expense-management features with security controls. The company targets SMEs and professionals and aims to become the Italian fintech champion in banking and administrative management for that segment. Tot plans to develop new products and features in administration, expense management, and financial optimisation while increasing investment in AI to boost efficiency and automation. The funding will also support expanded automation for clients and improved internal processes to further simplify administrative and financial tasks. Tot intends a significant team expansion, hiring across technology, product management, marketing, sales, customer success, and compliance. The company is targeting over 40,000 clients within two years and plans to grow its team to more than 100 employees; CEO Doris Messina cites Tot's strong Italian identity and deep understanding of the domestic market as differentiators. Tot is a Milan-based fintech platform founded in 2020 that aims to digitize administrative and financial management for professionals, freelancers, and microenterprises. Its product is designed to accompany self-employed professionals and small business owners through business-management phases, connecting them digitally with accountants, banks, customers and suppliers. Founders include Doris Messina (CEO and current Chief Digital Transformation Officer of Banca Sella), Bruno Reggiani, and Andrea Susta, who bring banking and digital marketing experience. The company targets Italy's large underserved segment—over 821k micro enterprises and more than 5 million self-employed workers—with tools to monitor expenditure, collections, earnings and tax provisions. Tot closed a €2 million seed round led by Banca Sella ahead of a planned market entry in Italy in early 2022 and intends to use the funding to expand across Europe. The platform's mission is to free up small businesses' time and give them access to advanced administration and planning resources to improve competitiveness and support local economies.

Participated · Equity · Sep 2025

AideXa is a digital bank focused on lending to micro and small enterprises, offering credit products with an average ticket around €200k and using proprietary AI-based cash-flow scoring. The bank reported H1 2025 originations of €230 million (+34% year-over-year), more than 20,000 clients (+31%) and revenues of €19.2 million (+50%), with a pro forma CET1 ratio of 23.2%. Management plans to grow lending by €300–400 million per year and targets €1 billion of total loans and €40 million of revenue in 2025. AideXa has invested €30 million in technology to automate processes and improve client interaction via AI. The institution intends to strengthen digital channels and partnerships with agents, confidi and other financial operators. It is also evaluating M&A opportunities and is in talks for a guarantee agreement with Sace and entry into the VAT credit market. Banca AideXa is a fintech bank specializing in financing micro and small enterprises and aims to industrialize credit for that segment. The company completed a €16 million capital increase, bringing total capital raised to €96 million. At the end of Q1 2024 the bank reported over €600 million in assets and a CET1 ratio of 17.5%; the capital increase is estimated to lift CET1 to about 26%. Despite a broader credit crunch that reduced new lending to SMEs by 25% year‑over‑year in Q1 2024, Banca AideXa grew its own disbursements by 25% in the same period. The raise is intended to support the business targets for 2024, including €700 million in loan stock, €30 million in revenues, and breaking even by year‑end. Management frames the operation as confirmation of investor confidence in its model and a basis to continue offering innovative credit solutions to micro and small Italian enterprises.