Introduction
Technology and UX at the service of SMEs
The Italian SME Market
As we often say, Tot is a platform made in Italy, for Italy.
We're currently the only "fully Italian" fintech in banking, born and built to serve entrepreneurs doing business in Italy. Why exactly Italy? It’s not just sentiment.
The numbers say it all: Italy's business landscape is one of the most promising in Europe.
Italy is EU's second-largest manufacturing base with nearly 4.9 million SMEs, making up 99% of all businesses. These aren't just statistics; they're the lifeblood of the economy, generating over 70% of private sector value (Eurostat, 2024).
Italy's future growth hinges on how well we support local SMEs.
At the same time, though, Italian businesses deal with more complex banking and red tape than many of their European counterparts and, as such, score poorly on digitalisation (rating 4 out of 12) vs. the EU average (Eurostat 2024). Trust in banks is historically low: just 30% of Italians feel adequately supported by financial institutions (IPSOS, 2023).
This is where tech steps in, giving SMEs the right tools to lighten their everyday financial and admin load. That means more time, less stress, and space to grow.
Across Europe, SMEs are set to spend over €200 billion on software and financial services by 2027, with digitalization on a steady increase (McKinsey, 2024).
Foreign fintechs have entered Italy, but most haven't adapted. They struggle with local specifics: from intricate compliance to the high standards held by Banca d'Italia, the Italian Central Bank.
We believe that to thrive in the Italian banking market you need more than great tech. You need boots on the ground and a deep understanding of local systems. Only then can you build products that solve the real, daily problems SMEs face. That’s what we do at Tot.
Just a few examples: we support "bonifici parlanti" (a type of wire transfers specifically used for tax deductions), enable tax payment forms (credited instantly, or schedulable up to a year in advance), and integrate directly with Italy’s online tax portal – adding tools to match invoices and payments automatically to save time, cut costs, and reduce errors. Not a small feat.
Our Vision: Tech Meets UX and Sustainable Growth
Running a business in Italy often means juggling disconnected tools, wasting time and energy trying to make systems talk to each other.
Tot changes that with an all-in-one platform that blends daily banking (payments, proceeds, business cards) with smart features like automated invoice reconciliation, journal exports, and one-click invoice payments. The result? A faster, cleaner experience that reduces friction and frees up focus.
Our vision is simple: use technology to power a great user experience. Whether we're building new features in-house or partnering with best-in-class providers — like we did for our business cards — our goal is to automate and streamline the financial admin that slows entrepreneurs down. And we do it by listening closely to our users.
To us, UX isn't a bonus – it's fundamental. Especially in finance, where regulation is strict and trust is hard-won.
That's the essence of the fintech challenge: making complex systems feel simple, intuitive, and secure. And doing it with a platform that’s robust, scalable, and sustainable.
Look at our mobile app. It was a top request from users, but we held off until it was truly ready, meeting both our standards and theirs.
Before that, we prioritised features that had an even greater impact: biometric login, zero-fee instant transfers, one-click card activation, and the ability to add collaborators (thus helping teams delegate while keeping financial visibility whole).
Growing in Italy: What's Next for Tot
Our partnership with Banca Sella, which safeguards our customers' funds, gave us a fast, reliable way to launch and validated our approach from day one.
Now, with around 7,000 growing businesses onboard, we can say with confidence: Tot is solving a real problem. We're helping Italian SMEs streamline their financial operations and giving them tools to grow.
Our audience is evolving. We once focused on microbusinesses, but we're now seeing more structured firms come aboard. After all, "SME" spans everything from 9-person startups to 250-person enterprises.
We began with companies of up to 15 employees. Today, we’'e supporting businesses with over 100 – and growing with them.
Our platform is evolving too. Features like unlimited business cards to manage expenses, or assigning specific account roles to team members, are designed for companies with more complex workflows.
We're committed to giving customers more visibility and control, turning the business account into more than just a payment tool. We want it to be a real growth platform: a financial command centre made for entrepreneurs, with features built specifically for the Italian market.
Our next challenge? Becoming Italy's top B2B fintech, and proving that world-class innovation can come from our own country.
To get there, we'll need to grow – not just the product, but the company. That means expanding the team, exploring new governance models, deepening our internal expertise, and investing in marketing, customer success, and product development. We'll also build new partnerships and vertical solutions that serve the ever-evolving needs of Italian SMEs.