Novarum Advisors

What Novarum Advisors does

Novarum Advisors S.r.l. is a privately-held Italian financial advisory boutique headquartered in Rome (legal seat at Via della Consulta 12) that delivers bespoke corporate finance, banking advisory, and subsidized funding services to startups, SMEs, and entrepreneurs. The firm operates across six core service lines — Corporate Finance (capital increases, M&A buy- and sell-side, club deals, fundraising, scouting), Banking Advisory (credit planning, renegotiation, line management), Subsidized Finance & Tax Incentives (EU, governmental, and regional funds; tax incentive certification), Innovation Development & Internationalization, Entrepreneur Financial Consulting (wealth management, generational transition), and Corporate & Legal Advisory (extraordinary operations, financial statement review, ESG reporting, due diligence, compliance, business valuation) — supplemented by sub-services in financial planning, budgeting, management control, growth strategy for investors, and ESG advisory.

The firm holds MIMIT accreditation as an official expert for R&D expense certification, a regulatory credential that supports its Smart&Start Italia advisory work where it reports a 90%+ application success rate versus a 30% national average. The delivery model is founder-led by Flavio Carboni (General Director) and Sonia Zortea (Senior Analyst), supported by a six-person team including a legal advisor, personal financial advisor, analyst, and junior analyst. Engagements are direct, quote-based, and structured as multi-year professional services contracts; the firm does not use channel partners, resellers, or marketplace distribution. Revenue is generated entirely through professional services fees.

Novarum serves more than 50 clients in sectors spanning R&D, fitness and e-sports, AI, manufacturing, internationalization, healthcare, IoT, fintech, and legal tech. Documented outcomes include facilitating Fitprime's €5M+ capital raises and subsequent acquisition by WellHub, supporting Affinity's €25M+ MIMIT development contract filing, securing over €1M in Smart&Start financing for TOT, and obtaining €700k+ Smart&Start funding for Jet HR. The firm is entirely self-funded (no external capital raised), founder-owned, and operationally confined to the Italian market, with website and newsletter content marketing as the primary demand-generation channels.

Name

Novarum Advisors

Legal name

Novarum Advisors S.r.l.

Website

https://novarum-advisors.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Novarum Advisors is a Rome-based financial advisory boutique serving Italian startups, SMEs, and entrepreneurs with corporate finance, M&A, banking, subsidized funding, and ESG consulting, leveraging MIMIT R&D accreditation to secure public financing.

Ownership category

akta.pro rank

Product category

Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940), Management Consulting Services (54161)

SIC

Investment Advice (6282), Services-Management Consulting Services (8742)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

Keywords

• Financial advisory services
• Subsidized financing consulting
• Mergers and acquisitions
• Corporate banking advisory
• Wealth management advisory

Headquarters

HQ city

Roma

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Financial Advisory Services: Professional consulting fees for corporate finance, M&A advisory, banking consulting, ESG reporting, due diligence, business valuation, and financial planning services. Revenue generated through service fees for customized financial solutions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Novarum Advisors is an Italian financial advisory firm that provides customized corporate finance, banking advisory, subsidized finance and tax incentives, innovation and internationalization support, entrepreneur wealth management with generational transition planning, and corporate & legal advisory (ESG, due diligence, business valuation) services to Italian startups, SMEs, entrepreneurs, and corporates. The firm is MIMIT-accredited for R&D expense certification and reports a 90%+ success rate on Smart&Start Italia funding applications, delivering engagements through direct consultation.

Product overview

Novarum Advisors offers a comprehensive suite of financial advisory and consulting services organized around six core service areas: Corporate Finance (capital increases, M&A), Banking Advisory (credit management), Subsidized Finance & Tax Incentives (EU/governmental funds), Innovation Development & Internationalization, Financial Consulting for Entrepreneurs (wealth management, generational transitions), and Corporate & Legal Advisory (ESG, due diligence). The Financial Advisory sub-services include customized financial planning, budget support, monitoring systems, investor growth strategies, and ESG consulting. Smart&Start Italia support represents a specialized funding advisory service with documented high success rates. The firm operates across multiple sectors including AI, Fintech, Legal Tech, Healthcare, IoT, Manufacturing, and E-sports. Novarum is accredited as an expert for R&D expense certification at MIMIT.

Differentiator

Problem solved

Functional benefit

Products and services

• Corporate Finance (Corporate Finance Advisory) Capital increase support via new private and institutional investors, Club Deal structuring, Fundraising, M&A Buy Side and Sell Side advisory, and scouting services for identifying investment opportunities. Targeted at Italian startups, growth companies, and corporate clients.
• Banking Advisory (Consulenza Bancaria) Planning and support for new credit requests, renegotiations, and management of existing credit lines. Targeted at Italian SMEs needing banking credit optimization.
• Subsidized Finance and Tax Incentives (Finanza e Fiscalità Agevolata) Access to European, governmental, and regional funds including non-repayable grants and subsidized loans, plus tax incentive certification (including R&D expense certification as MIMIT-accredited expert). Targeted at Italian companies seeking public funding and tax credits.
• Innovation Development and Internationalization (Sviluppo Innovazione e Internazionalizzazione) Advisory and financial structuring for accelerating fast-growing companies through direct investment, plus procurement of funds required for international market expansion. Targeted at Italian growth-stage companies seeking internationalization.
• Financial Consulting for Entrepreneurs (Consulenza Finanziaria per l'Imprenditore) Advisory focused on wealth management for entrepreneurs and generational transition/succession planning. Targeted at Italian entrepreneur and family-owned business principals.
• Corporate and Legal Advisory Extraordinary operations, financial statement review, ESG reporting, due diligence, compliance and risk management, and business valuation. Targeted at Italian corporates requiring corporate and legal advisory services.
• Smart&Start Italia Support Specialized advisory and application support for the Smart&Start Italia program, which provides zero-interest loans and grants up to €1.5 million for innovative Italian startups. Novarum reports a 90%+ success rate on these applications, compared to a 30% national average. Targeted at Italian innovative startups seeking Smart&Start funding.
• Customized Financial Planning (Pianificazione Finanziaria su Misura) Complete financial documentation service aimed at obtaining credit and defining the industrial plan, covering all aspects of a business's financial needs. Targeted at Italian SMEs and growth companies preparing financing or credit applications.
• Financial Plan and Budget Planning and budget support, including cash flow analysis and variance tracking. Targeted at Italian SMEs and corporates needing ongoing financial control.
• Monitoring and Management Control (Monitoraggio e Controllo di Gestione) Advanced monitoring and management control systems to enable effective and sustainable business management. Targeted at Italian SMEs and corporates seeking operational financial control.
• Growth Strategies for Investors (Strategie di Crescita per Investitori) Development of growth strategies that make a company attractive to private equity and new investors, creating a clear development path. Targeted at Italian growth companies preparing for fundraising or investor approaches.
• ESG Consulting (Consulenza ESG) Tools and advisory to initiate or improve sustainability journeys, enhancing balance sheet ratings. Targeted at Italian corporates and SMEs pursuing ESG reporting and sustainability goals.

Quantifiable outcome

• 90%+ success rate on Smart&Start applications (vs 30% national average)
• +2 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• WellHubminorOthersWellHub acquired Fitprime, a Novarum Advisors client. Novarum supported Fitprime through its growth journey including fundraising and strategic financial planning, culminating in this successful exit.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Grant Thornton Italy: Mid-tier Italian advisory firm providing corporate finance, tax credit, ESG and consulting services to Italian SMEs and mid-caps — overlapping with Novarum on subsidized finance advisory, ESG reporting and M&A support, though at significantly larger scale.
• The European House – Ambrosetti: Italian strategy and corporate finance advisory firm serving Italian corporates and entrepreneurs across M&A, growth strategy and institutional relationships — comparable in serving Italian SMEs and family-owned businesses with cross-disciplinary advisory.
• KPMG Italy: Big 4 advisory practice in Italy with substantial Deals (M&A), tax credit and corporate finance practices serving Italian SMEs and large corporates — competes with Novarum on subsidized finance and M&A mandates at the larger end of the market.
• Vitale & Associati (now Lazard Italy): Long-standing Italian M&A and corporate finance advisor now part of Lazard; operates at the larger end of the Italian mid-market advisory space in which Novarum competes, with overlapping services in fundraising, M&A and strategic advisory.
• BDO Italy: International mid-tier advisory network operating in Italy with corporate finance, tax incentives and M&A practices serving SMEs and entrepreneur-led businesses — directly comparable service mix and Italian SME focus, larger footprint.
• EY-Parthenon Italy: EY's strategy and transactions arm in Italy, advising on M&A, fundraising and corporate finance across Italian SMEs and large enterprises — overlapping with Novarum's corporate finance and advisory offering, with substantially greater scale and cross-border reach.
• RSM Italy: Italy-based member of the RSM global advisory network, offering corporate finance, tax and consulting services to Italian SMEs and entrepreneurs — overlapping services (M&A, tax credits, advisory) and similar mid-market client segment.
• PwC Italy Deals: PwC's Deals and Corporate Finance practice in Italy, providing M&A advisory, fundraising support and tax incentive services to Italian SMEs, scale-ups and corporates — direct overlap with Novarum's service portfolio at significantly larger scale.

Direct peers

• K Finance: Italian independent M&A and corporate finance boutique advising SMEs, family businesses and entrepreneurs on buy-side, sell-side and capital raising — closely comparable in scope, client profile and boutique structure.
• Russo De Rosa Associati: Italian independent corporate finance boutique focused on M&A advisory, capital raising and shareholder restructuring for Italian SMEs and mid-caps — closely comparable to Novarum's core Corporate Finance service line and Italian SME client base.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/novarum-advisors

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novarum Advisors