# FreshBooks

**Source:** https://geo.sig.ai/brands/freshbooks  
**Vertical:** Finance  
**Subcategory:** Accounting Software  
**Tier:** Leader  
**Website:** freshbooks.com  
**Last Updated:** 2026-04-14

## Summary

SMB accounting platform for service businesses with invoicing, time tracking, and expense management; 160+ country reach competing with QuickBooks for freelancer market.

## Company Overview

FreshBooks is an accounting and invoicing software platform purpose-built for self-employed professionals and small service-based businesses, providing invoicing, expense tracking, time tracking, and financial reporting in a clean, non-accountant-friendly interface. Founded in 2003 and headquartered in Toronto, Canada, FreshBooks serves millions of customers across 160+ countries and has raised over $165 million from investors including Georgian Partners. The company has consistently prioritized ease-of-use for business owners without financial expertise.

FreshBooks differentiates from QuickBooks (the dominant SMB accounting platform) by focusing on service businesses — consultants, freelancers, agencies, contractors — rather than product-based businesses that need inventory management. The platform's workflow follows the money for service businesses: estimate → project → time tracking → invoice → payment → bookkeeping. Automated payment reminders, online payment acceptance (credit cards, ACH), and late fee automation reduce accounts receivable friction for small businesses.

In 2025, FreshBooks has expanded into advanced accounting features (double-entry accounting, journal entries, chart of accounts) that allow users to graduate from simple invoicing to more complete bookkeeping without switching platforms. The company added payroll integration through partnerships and has strengthened its bank reconciliation and tax preparation features. FreshBooks competes with QuickBooks Online, Wave (H&R Block), and Xero for SMB accounting share. The company's North American base is strong, with growing international traction in the UK, Australia, and Europe. FreshBooks' 2025 strategy emphasizes AI-powered bookkeeping automation and expanding its ecosystem of integrated financial service partners.

## Frequently Asked Questions

### What is FreshBooks?
FreshBooks is a Toronto-based cloud accounting and invoicing platform that serves customers in over 160 countries. Founded in 2003, the company has grown to a $1 billion valuation and is particularly known for its invoicing capabilities.

### What products and services does FreshBooks offer?
FreshBooks offers cloud accounting software, invoicing and billing, expense tracking, time tracking, and accounts payable solutions. The platform is particularly recognized for its strong invoicing capabilities.

### Who is FreshBooks designed for?
FreshBooks serves over 305,000 customers across 160+ countries. The platform is best suited for businesses seeking invoicing capabilities and cloud-based accounting solutions.

### When was FreshBooks founded?
FreshBooks was founded in 2003.

### Where is FreshBooks located?
FreshBooks is based in Toronto, Canada.

### How much funding has FreshBooks raised?
FreshBooks has raised a total of $464 million over 7 funding rounds. The most recent funding was a $125 million Debt - II round in March 2025 from Morgan Stanley Investment Management, and the company achieved a $1 billion valuation in August 2021.

### Who are FreshBooks' investors?
FreshBooks' investors include JPMorgan Chase, Oak Investment Partners, and Accomplice. Morgan Stanley Investment Management provided the most recent debt financing in March 2025.

### What are FreshBooks' key business metrics?
As of 2018, FreshBooks reported $55 million in revenue and 305,000 customers. The company currently has 613 employees as of December 2024 and achieved a $1 billion valuation in August 2021.

### What technology does FreshBooks use?
FreshBooks operates as a cloud-based platform, providing cloud accounting software accessible to customers across 160+ countries.

### What are the latest developments at FreshBooks?
In March 2025, FreshBooks raised $125 million in Debt - II funding from Morgan Stanley Investment Management. As of December 2024, the company employs 613 people and maintains its $1 billion valuation achieved in August 2021.

## Tags

b2b, saas, fintech, automation, cloud-native, scaleup

---
*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*