When was FreshBooks founded?

FreshBooks was founded in 2003 and became a unicorn in 2021, reaching the milestone in 18 years. It raised its 1st funding round 11 years after its incorporation.

Where is FreshBooks located?

FreshBooks is headquartered in Toronto, Canada. It is registered at Toronto, Ontario.

Who is the current CEO of FreshBooks?

Mike McDerment and Shaheen Javadizadeh s of FreshBooks. Mike McDerment has also founded 1 company and is an angel investors in 1 startup.

How many employees does FreshBooks have?

As of Jul 31, 2026, the latest employee count at FreshBooks is 387.

Is FreshBooks a funded company?

FreshBooks is a funded company, having raised a total of $154M across 7 funding rounds to date. The company's 1st funding round was a $30M Series A round, raised on Jul 23, 2014.

How much is FreshBooks worth?

The latest valuation of FreshBooks is $1B as of Aug 10, 2021.

When was the latest funding round of FreshBooks?

FreshBooks' latest funding was a $125M Conventional Debt round on Mar 19, 2025, with participation from 1 investor. Its primary sector is Finance & Accounting Tech. In Canada, the Finance & Accounting Tech sector has seen $146M in funding in 2026 to date.

What is the annual revenue of FreshBooks?

Annual revenue of FreshBooks is between €1M and €10M as on Dec 31, 2025

Is FreshBooks a Finance & Accounting Tech company?

The primary sectors of FreshBooks are Finance & Accounting Tech and Freelancer IT.

Where does FreshBooks rank among its competitors?

FreshBooks ranks 7th amongst 313 active competitors, of which 49 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was Collective, which secured $71M in May, 2025.

Who are the top competitors of FreshBooks?

FreshBooks' top competitors include Wave, Accountable and OkCredit. Among them, Collective secured the most recent funding round in May, 2025.

FreshBooks - 2026 Company Profile, Team, Funding, Competitors & Financials

FreshBooks is a series E company based in Toronto (Canada), founded in 2003 by Mike McDerment. It operates as a Provider of accounting software for invoicing, billing, payments, and payroll. FreshBooks has raised $154M in funding from investors like JPMorgan Chase, Oak Investment Partners and Accomplice, with a current valuation of $1B. The company has 313 active competitors, including 49 funded and 18 that have exited. Its top competitors include companies like Wave, Accountable and OkCredit.

Sectors and market segments that FreshBooks operate in

FreshBooks serves in the FinTech, Gig Economy market segments.The primary business model of FreshBooks are:

Company Details

Provider of accounting software for invoicing, billing, payments, and payroll. It offers tools for creating invoices, tracking expenses, managing clients, and generating financial reports. The software supports mileage tracking, time tracking, and project management. It also provides features for estimating, bookkeeping, and team management.

Website: www.freshbooks.com/
Social
Email ID: *****@freshbooks.com
Phone Number: +1 **********, +1 **********
Registered Address: Toronto, Ontario

Key Metrics

Founded Year

2003

Location

Toronto, Canada

Stage

Series E

Total Funding

$154M in 7 rounds

Latest Funding Round

Conventional Debt, Mar 19, 2025, $125M

Post Money Valuation

$1B as on Aug 10, 2021

Investors

JPMorgan Chase & 20 more

Ranked

7^th among 313 active competitors

Annual Revenue

€1M - €10M as on Dec 31, 2025

Employee Count

387 as on Jul 31, 2026

Investment & Acquisitions

FastBill & 1 more

Similar Companies

Wave & 343 more

View FreshBooks' full profile

FreshBooks is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
FreshBooks d.o.o. CIN: 91938817383 , Croatia, Active	Feb 19, 2020	€1M - €10M (As on Dec 31, 2025)	-
2NDSITE INC. CIN: 1636522 , Canada, Active	Oct 22, 2004	-	-	-

FreshBooks has raised a total funding of $154M over 7 rounds. Its first funding round was on Jul 23, 2014. Its latest funding round was a Conventional Debt round on Mar 19, 2025 for $125M. 1 investor participated in its latest round. FreshBooks has 21 institutional investors.

Here is the list of recent funding rounds of FreshBooks:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 19, 2025	$125M	Conventional Debt	-	-	-	Morgan Stanley
Aug 03, 2022	$100M	Conventional Debt	-	-	-	BMO, J P Morgan
Aug 10, 2021	$80.8M	Series E	$1B	-	Accomplice	Barclays, J P Morgan, Gaingels, Manulife, BMO

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View details of FreshBooks's funding rounds and investors

The founders of FreshBooks is Mike McDerment. Mike McDerment and Shaheen Javadizadeh are the CEOs of FreshBooks.

Here are the details of FreshBooks' key team members:

Mike McDerment: Co-Founder & CEO of FreshBooks. They are also an angel investor in 1 startup.
Contact Info: 1 email address
Shaheen Javadizadeh: CEO of FreshBooks.
Contact Info: 1 email address

View details of FreshBooks's Founder profiles and Board Members

FreshBooks' employee count trend

FreshBooks has 387 employees as of Jul 26. Here is FreshBooks's employee count trend over the years:

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Top competitors of FreshBooks include Wave, Accountable and OkCredit. Here is the list of Top 10 competitors of FreshBooks, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Wave 2010, Toronto (Canada), Acquired	Web-based accounting software for businesses	$82.4M	CRV, BDC & 20 others	74/100
2nd	Accountable 2017, Brussels (Belgium), Series A	App-based accounting management solutions for freelancers	$12.9M	Connect Ventures, Stride & 4 others	70/100
3rd	OkCredit 2017, Bengaluru (India), Series B	Provider of a digital ledger application for small businesses	$84.9M	Lightspeed, Tiger Global Management & 5 others	68/100
4th	Collective 2018, San Francisco (United States), Series C	Cloud-based back-office platform for self-employed and businesses	$150M	General Catalyst, QED Investors & 35 others	64/100
5th	LummoSHOP 2019, Jakarta (Indonesia), Series C	Provider of storefront solution for online businesses	$149M	Peak XV Partners, Surge & 32 others	63/100
6th	Khatabook 2018, Bengaluru (India), Series C	App-based bookkeeping management solutions for small businesses	$187M	Y Combinator, B Capital & 54 others	62/100
7th	FreshBooks 2003, Toronto (Canada), Series E	Provider of accounting software for invoicing, billing, payments, and payroll	$154M	Atlas Venture, Teralys Capital & 19 others	61/100
8th	Indy 2010, Lyon (France), Series C	Cloud-based accounting software for freelancers	$98.9M	BlackFin, Singular & 7 others	60/100
9th	Pastel 2021, Lagos (Nigeria), Seed	App-based bookkeeping and accounting platform	$6.12M	TLcom, Golden Palm Investments & 5 others	57/100
10th	BukuWarung 2019, Jakarta (Indonesia), Series A	Bookkeeping software for businesses	$80M	The Twenty Minute, Rocketship & 32 others	57/100