About FreshBooks
FreshBooks is a company based in Toronto (Canada) founded in 2003 by Mike McDerment.. FreshBooks has raised $153.75 million across 7 funding rounds from investors including Barclays, J P Morgan and Morgan Stanley. FreshBooks has completed 2 acquisitions, including Facturama and FastBill. FreshBooks offers products and services including Invoicing, Expenses Tracking, Payments, and Accounting. FreshBooks operates in a competitive market with competitors including Intuit, Visma, Wave, Xero and FreeAgent, among others.
- Headquarter Toronto, Canada
- Founders Mike McDerment
- Stage Unicorn
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Sectors
Technology
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Email
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Phone
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Website
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Social
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Products & Services of FreshBooks
FreshBooks offers a comprehensive portfolio of products and services, including Invoicing, Expenses Tracking, Payments, and Accounting. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Software for creating and managing professional invoices quickly.
Tool for scanning receipts and categorizing business expenses easily.
System for online payments and automated billing reminders.
Platform for real-time financial reports and tax preparation.
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Software Development Team
18 people
Data Analysis and Operations Team
17 people
Sales and Marketing
16 people
Product Management Team
11 people
Senior Team
6 people
Finance and Accounting
5 people
Operations Team
3 people
Leadership Team
3 people
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Funding Insights of FreshBooks
FreshBooks has successfully raised a total of $153.75M across 7 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $125 million completed in March 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Debt – Conventional — $125.0M
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First Round
First Round
(23 Jul 2014)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2025 | Amount | Debt – Conventional - FreshBooks | Valuation |
investors |
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| Aug, 2022 | Amount | Debt – Conventional - FreshBooks | Valuation |
investors |
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| Aug, 2021 | Amount | Debt – Conventional - FreshBooks | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Investors in FreshBooks
FreshBooks has secured backing from 11 investors, including institutional and venture fund investors. Prominent investors backing the company include Barclays, J P Morgan and Morgan Stanley. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Accomplice is engaged in venture capital investments for startups.
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Founded Year | Domain | Location | |
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Venture capital investing with a focus on diversity and inclusion in the ecosystem.
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Founded Year | Domain | Location | |
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Venture capital investments are made in disruptive growth companies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by FreshBooks
FreshBooks has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Facturama and FastBill. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
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Online slot games are provided through licensed servers.
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2012 | ||||
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Accounting and invoice management solutions are offered for businesses.
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2007 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - FreshBooks
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Freshbooks Comparisons
Competitors of FreshBooks
FreshBooks operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Intuit, Visma, Wave, Xero and FreeAgent, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Financial and accounting software is developed for businesses and individuals.
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| domain | founded_year | HQ Location |
Cloud-based ERP software is provided for business management across segments.
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| domain | founded_year | HQ Location |
Web-based accounting software is offered for business use.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payment management is offered for small businesses.
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| domain | founded_year | HQ Location |
Cloud-based accounting software is provided for small businesses and freelancers.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Freshbooks
Frequently Asked Questions about FreshBooks
When was FreshBooks founded?
FreshBooks was founded in 2003 and raised its 1st funding round 11 years after it was founded.
Where is FreshBooks located?
FreshBooks is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Who is the current CEO of FreshBooks?
Mike McDerment is the current CEO of FreshBooks. They have also founded this company.
Is FreshBooks a funded company?
FreshBooks is a funded company, having raised a total of $153.75M across 7 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $50M, raised on Jul 23, 2014.
What does FreshBooks do?
FreshBooks was established in 2003 in Toronto, Canada, as a provider of cloud-based accounting solutions. Invoicing, time tracking, expense management, project oversight, online payments, and financial reporting are handled through the platform. Small and medium-sized enterprises, freelancers, and compact teams are served across various industries. Access is enabled via Android and iOS applications for operational efficiency.
Who are the top competitors of FreshBooks?
What products or services does FreshBooks offer?
FreshBooks offers Invoicing, Expenses Tracking, Payments, and Accounting.
How many acquisitions has FreshBooks made?
Who are FreshBooks's investors?
FreshBooks has 11 investors. Key investors include Barclays, J P Morgan, Morgan Stanley, BMO, and JPMorgan Chase.
What is FreshBooks's valuation?
The valuation of FreshBooks is $1B as of Aug 2021.
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