WithLess closes a €3 million round led by Primo Digital to improve the efficiency of enterprise software management

08 ott 2024 WithLess, Press Release

Milan, October 8th, 2024 – WithLess, the innovative startup that eliminates wasted time and money in the acquisition and management of enterprise software, has secured an investment of €3 million from the lead investor Primo Ventures SGR S.p.A., through Primo Digital and Primo Digital Parallel Italia funds, and from Yabeo, Apside, Zest, B-Heroes, and other angel investors. The round is intended to launch the product commercially in Italy, Spain, Germany, and France, and to strategically expand the team.

It is estimated that companies today waste between 20% and 35% of their software budget, often paying for duplicate or entirely unused tools. CFOs and administrators of many SMEs can lose up to a month and a half per year recovering invoices, reconciling budgets, and tracking expenses. Since 2022, the number of subscription-based software and services used by companies has doubled, and it is expected to quintuple by 2028 (Source: Statista).

Despite this growth, many companies still lack an effective system for monitoring the use of purchased tools, leaving CFOs without a clear overview. Without centralized oversight, various departments purchase software without considering its financial impact, assuming the costs are minimal. However, these subscription services often have variable costs, and without constant monitoring, companies end up paying for unused tools, with expenses that could easily be redirected to other investments.

In this context, WithLess was born—a software management platform for finance teams that uses artificial intelligence to optimize costs and structure procurement processes, returning payment control to CFOs and preventing both cost and time losses.

WithLess is already being used by some of the most innovative Italian tech companies such as MotorK, Qomodo, SmartPricing, Talent Garden, UnoBravo, which have seen significant benefits:

Simone Colla, Head of Finance at MotorK:
"Automation and integration are fundamental aspects of our business, and having a SaaS expense management platform like WithLess that can do the same internally for us is fantastic. Definitely a great investment that paid for itself quickly."

Luca Rodella, CEO of SmartPricing:
"In a rapidly growing startup, it’s easy to lose track of expenses. WithLess helped us delegate payments while maintaining control."

Tiziana Cannone, CFO of UnoBravo:
"Thanks to WithLess, we quickly identified dozens of underutilized or unnecessary software tools, saving a considerable amount through their service."

WithLess simplifies administrative management and helps save over 30% on software-related costs. It restructures procurement into three simple phases:

DISCOVER: WithLess connects to company systems and, thanks to its AI, maps the software being used, tracking usage and organizing data into a dashboard where the CFO can monitor the number of purchased software tools, incurred costs, and actual usage by employees.
CONTROL: WithLess returns control of payments to the finance team and prevents unwanted charges, providing an unlimited number of prepaid cards and structuring software purchases with an AI-managed budget approval process.
SAVE: WithLess helps companies save time and money by generating alerts, automating payment-related bureaucracy, and offering on-demand support services for software selection and renegotiation.

Gianluca Treu, founder and CEO of the company, commented: "To launch WithLess, we started with the team. Together with Thomas Alisi (co-founder) and our advisor Davide Dattoli (founder of Talent Garden), we selected talents with experience in unicorn companies such as Adyen and Revolut. With this round, the goal is to continue strengthening this exceptional team to build a sales force capable of conquering the Italian market and expanding into Europe. The new resources will also be crucial in making our AI system even more advanced, leveraging valuable feedback from our customers."

Niccolò Sanarico, General Partner and CTO of Primo Ventures SGR S.p.A., added: "If it’s true that, as many say, ‘software is eating the world,’ then we need simple and effective solutions to govern and manage it. WithLess answers exactly to this need. We chose to invest in a team that impressed us with its competence and strong ambition. We are happy to support the founders in their growth journey, including ESG-related issues, by helping WithLess mitigate risks and seize opportunities linked to both financial and environmental sustainability."

Enrica David, Senior Director of Intesa Sanpaolo S.p.A. and President of the Apside Investment Committee, emphasizes: “The investment in WithLess is strategic for its ability to reduce software costs and revolutionize corporate procurement. Through its innovative use of artificial intelligence, the platform optimizes resources and improves operational efficiency. WithLess stands out for its capability to transform administrative management, addressing the needs of modern businesses with a perspective in line with ESG objectives”.

Gabriele Ronchini, CEO of Zest Investments and Vice President of the Apside Investment Committee, commented: "Investing in WithLess means embracing the future of AI applied to fintech, where artificial intelligence is not just a tool but a catalyst for change. In a world where efficiency and sustainability are paramount, WithLess stands out as an innovative solution that optimizes costs and fights waste, perfectly aligned with the needs of a modern and conscientious economy."

WithLess was also selected by Mastercard among the top 10 Italian fintech companies, within the "Mastercard for Fintech Program," demonstrating excellent positioning in the Italian market. After this recognition, the company is ready to consolidate its national presence and conquer the European market.

The deal was completed with the support of the Lexia law firm, led by Attorney Angelo Messore, and LCA Studio Legale - law firm -, led by Attorney Stefano Giannone Codiglione.

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