FreshBooks acquires FastBill

FreshBooks is a provider of cloud-based financial software for corporate customers and primarily offers its services to freelancers and small service providers. The company announced the completion of a USD 120 million Series E financing round in August 2021. The previous financier Accomplice led the equity financing.

FastBill automates daily processes and brings order to invoices, receipts and banking and currently has customers in 16 European countries. Together they now want to develop new platform functions and expand into markets. According to a Fastbill representative, the company enables fully digital and pre-structured data exchange with common systems and states that partnership enables FreshBooks to enter the market in Germany and Central Europe.