Subbyx, an Italian scale-up operating in the subscription economy sector and certified as a B Corp, has announced the completion of a Series A funding round launched in early 2025, bringing the total funds raised to €50 million across equity and debt. The deal marks a key milestone in Subbyx’s growth, having attracted international funds Systemiq Capital and Flashpoint to the Italian market for the first time.
Systemiq Capital is leading the round as a new equity investor, whilst Flashpoint is supporting the transaction by providing the debt financing required for the acquisition of the device fleet. Azimut, an existing investor, has also reaffirmed its confidence by participating in the round.
Since its launch in February 2024, Subbyx has recorded one of the fastest growth trajectories in the Italian tech sector, reaching an annual recurring revenue (ARR) of €12 million in just 24 months. This result was achieved with a lean team of 54 professionals and rigorous margin management, enabling the company to achieve positive EBITDA as early as the third quarter of 2025 and positive adjusted EBITDA from the fourth quarter of 2025.
For the 2026 financial year, management anticipates a further acceleration: first-quarter forecasts indicate volumes equivalent to 50% of total 2025 revenue, with the aim of reaching €20 million in ARR by the end of the year, with an EBITDA-to-revenue ratio of 30%.
The key to scalability also lies in Subbyx Builder, the proprietary AI-powered platform that transforms the scale-up into a technology enabler. The no-code solution enables merchants and large enterprises to convert traditional sales models into recurring revenue streams, managing the entire subscription lifecycle. To date, the technology component already accounts for 10% of the total projected turnover for the first quarter of 2026.
“Our aim is to provide the operating system for the subscription access and management economy,” says Filippo Rocca, CEO and founder of Subbyx (pictured), in a statement. “The arrival of partners of the calibre of Flashpoint and Systemiq Capital confirms the soundness and speed of our execution. “We have built an infrastructure in-house that did not previously exist; today we are making it available to the market to facilitate more efficient and faster management and transformation of traditional transactional business models.”
The new funding will support the company’s expansion in Europe, with Sweden identified as its first overseas market. Subbyx’s strategy aims to redefine the relationship between consumers and products, promoting reuse and extending the life cycle of goods, in full line with its B Corp status.
“Until yesterday, the shift from ownership to access was a matter of choice. Today, with the return of inflation, it is becoming a macroeconomic necessity.” “Subbyx has solved the infrastructure challenge by providing an operating system that enables physical assets to be scaled as a service,” says Irena Spazzapan, managing general partner at Systemiq Capital.
“We are very proud of our first investment in Italy, particularly in a company like Subbyx, which combines exceptional growth with solid fundamentals and an asset-backed business model, making it a particularly attractive opportunity for growth debt. The company demonstrates very strong demand, attractive unit economics with clear opportunities for upselling and pricing, and a distinctive go-to-market strategy.” “Partnerships with leading consumer electronics retailers enable lower customer acquisition costs than market benchmarks, positioning the business for scalable and sustainable growth,” says Denis Mosolov, managing partner at Flashpoint Growth Debt.
“We are proud to have believed in Subbyx from the very beginning as early institutional investors,” say Edoardo Guerrieri, partner and investment director at FNDX, and Guido Bocchio, head of venture capital at Azimut. “The progress made so far confirms the strength of the team and the business model, and we continue to look forward with great confidence to this new phase of growth and international expansion.”
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