From the snap election called by Canadian Prime Minister Justin Trudeau to the country’s recently expressed eagerness to accept refugees in the wake of the U.S. withdrawal from Afghanistan, there have been more than a few reasons for the Great White North to make news headlines of late.
Now fintech fans in particular have another reason to pay attention to what’s going on in the chronically under-discussed nation. FreshBooks, a cloud accounting software company based in Toronto, Ontario, has raised $130 million in new funding. This gives the firm a valuation of more than $1 billion, becoming Canada’s latest fintech unicorn.
FreshBooks CEO Don Epperson said that the funding, which included $50 million in debt financing, was an “injection of confidence” in the company’s mission to help small businesses digitize their accounting operations. Epperson added that the capital will fuel investment in markets that are experiencing significant increases in regulation and help those small business owners better “manage their finances” by “simplifying workflows.”
The Series E round was led by long-time FreshBooks investor Accomplice. Also participating in the funding were J.P. Morgan, Gaingels, BMO, and Manulife. New investor Barclays, one of FreshBooks’ platform partners, was also involved in the financing.
Founded in 2003, FreshBooks is active in more than 160 countries, including Croatia, Mexico, the Netherlands, and the U.S. – as well as its native Canada. The company’s technology has helped more than 30 million people better manage their finances, billing operations, and payments, while increasing customer engagement with its ten-time Stevie award-winning customer support. In July, the company announced that it was teaming up with the Ontario government in a data-sharing partnership to help understand the impact of the COVID-19 pandemic on small businesses. In May, FreshBooks co-founder Mike McDerment was featured in Profiles in Leadership where he discussed the company’s origins from its humble beginnings in “his parents’ basement” to the 500-employee company that is now among the top cloud accounting software firms in the world.
Here is our look at fintech innovation around the world.
Central and Southern Asia
Latin America and the Caribbean
Asia-Pacific
Sub-Saharan Africa
Central and Eastern Europe
Middle East and Northern Africa
Photo by Andre Furtado from Pexels
From the snap election known as by Canadian Prime Minister Justin Trudeau to the nation’s just lately expressed eagerness to just accept refugees within the wake of the U.S. withdrawal from Afghanistan, there have been quite a lot of causes for the Nice White North to make information headlines of late.
Now fintech followers specifically have one more reason to concentrate to what’s happening within the chronically under-discussed nation. FreshBooks, a cloud accounting software program firm based mostly in Toronto, Ontario, has raised $130 million in new funding. This provides the agency a valuation of greater than $1 billion, turning into Canada’s newest fintech unicorn.
FreshBooks CEO Don Epperson mentioned that the funding, which included $50 million in debt financing, was an “injection of confidence” within the firm’s mission to assist small companies digitize their accounting operations. Epperson added that the capital will gas funding in markets which might be experiencing vital will increase in regulation and assist these small enterprise homeowners higher “handle their funds” by “simplifying workflows.”
The Collection E spherical was led by long-time FreshBooks investor Confederate. Additionally taking part within the funding had been J.P. Morgan, Gaingels, BMO, and Manulife. New investor Barclays, considered one of FreshBooks’ platform companions, was additionally concerned within the financing.
Based in 2003, FreshBooks is energetic in additional than 160 nations, together with Croatia, Mexico, the Netherlands, and the U.S. – in addition to its native Canada. The corporate’s expertise has helped greater than 30 million folks higher handle their funds, billing operations, and funds, whereas rising buyer engagement with its ten-time Stevie award-winning buyer assist. In July, the corporate introduced that it was teaming up with the Ontario authorities in a data-sharing partnership to assist perceive the impression of the COVID-19 pandemic on small companies. In Could, FreshBooks co-founder Mike McDerment was featured in Profiles in Management the place he mentioned the corporate’s origins from its humble beginnings in “his mother and father’ basement” to the 500-employee firm that’s now among the many prime cloud accounting software program companies on the earth.
Right here is our take a look at fintech innovation world wide.
Central and Southern Asia
Latin America and the Caribbean
Asia-Pacific
Sub-Saharan Africa
Central and Jap Europe
Center East and Northern Africa
Photograph by Andre Furtado from Pexels
