FreshBooks

FreshBooks

Cloud-based accounting software for businesses

About FreshBooks

Simplify's Rating
Why FreshBooks is rated
B-
Rated C on Competitive Edge
Rated B on Growth Potential
Rated B on Rating Differentiation

Industries

Consumer Software

Fintech

Company Size

201-500

Company Stage

Debt Financing

Total Funding

$149.6M

Headquarters

Toronto, Canada

Founded

2003

Overview

FreshBooks provides cloud-based accounting software aimed at simplifying financial management for small to medium-sized businesses and self-employed professionals. The software allows users to efficiently track expenses, time, and invoices, making it easier for business owners and accountants to manage their finances. Users can access the platform through a subscription model, which includes various pricing tiers and a 30-day money-back guarantee, along with an introductory discount of 80% for the first four months. FreshBooks is designed to be user-friendly, catering to those without accounting experience, and is popular among over 30 million users. Key features include expense and time tracking, invoicing, payment acceptance, and mobile accessibility, enabling users to manage their accounting tasks from anywhere. The goal of FreshBooks is to help businesses improve organization, enhance client relationships, and gain insights for better financial planning.

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Simplify's Take

What believers are saying

  • FreshBooks' subscription model aligns with industry trends, boosting customer acquisition and retention.
  • The expansion of Stripe Connect features enhances FreshBooks Payments, improving payment processing.
  • AI-driven financial analytics tools can provide predictive insights, enhancing decision-making.

What critics are saying

  • Increased competition from market leaders may impact FreshBooks' market share.
  • Dependency on Stripe's technology could pose risks if Stripe faces issues.
  • Economic downturns may threaten FreshBooks' subscription-based revenue model.

What makes FreshBooks unique

  • FreshBooks offers a user-friendly platform for non-accountants, simplifying financial management.
  • The company provides mobile-friendly solutions, catering to the rise of remote work.
  • FreshBooks' integration with Shopify enhances e-commerce capabilities for online businesses.

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Funding

Total Funding

$149.6M

Meets

Industry Average

Funded Over

4 Rounds

Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Debt Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

401(k) Company Match

Stock Options

Unlimited Paid Time Off

Parental Leave

Home Office Stipend

Professional Development Budget

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

2%

2 year growth

0%
BetaKit
Nov 12th, 2024
Toronto’S Rising Tech Stars Have One Big Thing In Common: They Worked At Uber

How the global rideshare company provided “the best possible business education.”

EIN News
Jul 30th, 2024
The Top Accounts Receivable Automation Software According to the FeaturedCustomers Summer 2024 Customer Success Report

Market Leaders - Bill.com, BillingPlatform, Billtrust, BlackLine, Esker, HighRadius, Sage Intacct, Stripe, and Versapay were given the highest "Market Leader" award.

CPAPracticeAdvisor
Jul 22nd, 2024
Forwardly Unveils New Integration With FreshBooks

Forwardly, a modern payment solution for small businesses, announced on July 16 the launch of its integration with FreshBooks, offering FreshBooks clients in the U.S. faster payment options like instant payments and same-day ACH along with automatic reconciliation.

BetaKit
Apr 26th, 2024
Freshbooks Expands Stripe Partnership With New Embedded Payments Offering

FreshBooks Payments will allow businesses to invoice and collect payments in one place

PYMNTS
Apr 25th, 2024
Freshbooks To Add Latest Stripe Connect Features To Accounting Software

FreshBooks will add a payment solution with the latest Stripe Connect features to its cloud-based accounting software for small businesses and accountants. The new FreshBooks Payments will be available this summer, enabling business owners to accept payments seamlessly, FreshBooks said in a Thursday (April 25) press release. “As one of the first to adopt Stripe Connect’s embedded components, we are offering FreshBooks customers an exceptional payment experience,” Stefano Grossi, chief technology and product officer at FreshBooks, said in the release

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