Subscribe to Entrepreneur for $5

FreshBooks Receives $ 130 Million in Series E Investment Round; another unicorn is born

Since 2003, FreshBooks has helped more than 30 million people in more than 160 countries and has established itself as one of the leading accounting software platforms for SMBs and freelancers.

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

FreshBooks, one of the leaders in online accounting software with clients in more than 160 countries, announced the raising of $ 80.75 million in Series E financing. The company obtained an additional $ 50 million in debt, raising the valuation. Total FreshBooks to more than $ 1 billion.


The round was led by investor Accomplice, who has been with FreshBooks for a long time. JP Morgan, Gaingels, BMO and Manulife also participated; as well as Barclays, an ally of the platform in the United Kingdom. In Mexico, FreshBooks bought the Mexican company Facturama in 2020.

“This round represents an injection of confidence in our mission to digitally empower small businesses. We will use this capital to strengthen our differentiators, this includes investing in markets that grow and evolve in regulatory matters, help entrepreneurs to manage their finances through simplified workflows, and remain leaders and references of support and customer service " "said Don Epperson, CEO of FreshBooks." We are proud to have the backing of investors who have been with us for a long time, who believe in what we do and want to participate in our next successes. "

The investment comes at a time when more entrepreneurs require digital solutions to comply with the tax and billing regulations of each country where they operate. The company plans to use this capital to boost its sales, marketing, research and development areas, as well as strategic acquisitions. FreshBooks seeks to reach more customers in more countries, with easy-to-use features and local integrations.

"We are excited to support the FreshBooks team with this capital investment as they scale into new markets," said Kester Keating, Head of US Principal Investments at Barclays. "Through this investment and the partnership between Barclaycard Payments and FreshBooks, we are supporting our customers to embrace change, the software continues to have a profound impact on businesses of all sizes."

Don Epperson. Photo: Courtesy

Jeff Fagnan, Accomplice Founder and Managing Partner, adds: "As recurring investors we are more confident than ever to support FreshBooks and to lead this internal round. Today more than ever there is a need to support freelancers with digital tools and solutions. , and no company understands and develops it like the FreshBooks team does. "

Since 2003, FreshBooks has helped more than 30 million people in more than 160 countries and has established itself as one of the leading accounting software platforms for SMBs and freelancers. The company differentiates itself by offering accounting software designed for business owners, while offering award-winning customer service.

"With FreshBooks' ambition to help small businesses on their digital journey, there is incredible potential for this organization to conquer the market. We look forward to our relationship with the FreshBooks team continuing to grow as they innovate the platform and expand internationally. through strategic acquisitions, "says Andre Salvi, Head of the Technology and Innovation Banking Group at BMO Bank of Montreal.

This new round is another significant development since FreshBooks was created in 2003. In September 2020, FreshBooks acquired the Mexican electronic invoicing company Facturama to expand the company's audience in Spanish-speaking markets.

"Eight months into our relationship with the Facturama team, we see how resilient and growth-oriented the small business community is in Mexico. This valuation event and the new round of funding will help us execute our mission to support the small business owners in Latin America, ”he says." Don Epperson, CEO of FreshBook.