– JAPAN, Tokyo – freee announces today that it has raised US$60 million in Series E funding from LINE Corporation, MUFG Bank, Ltd., LIFE CARD CO., LTD. and several international institutional investors. Including Series E, freee has now raised an aggregate of US$155 million since its founding in July 2012. The fund will be invested to fuel its continued growth as a “business efficiency tool” and accelerate development efforts of building a “small businesses platform”.
5 years after launching “Accounting freee” in 2013, freee has acquired over 1,000,000 business accounts and has become the No.1 cloudbased accounting and HR software in Japan in terms of market share. freee has also acquired 5,000+ accountants as its certified advisors that provide their service to their clients on freee’s platform. In addition, 3,500+ web app and services, including online banking services, credit cards, B2B SaaS products, are integrated with freee to build the most useful software ecosystem for Japanese SMBs. In July 2018 freee launched budgeting, cash flow forecast/planning and flexible analytics features on “Accounting freee” to help businesses track realtime business performance at a glance. freee aims to create an environment where small businesses thrive by not only freeing SMBs from backoffice tasks but also accelerating their business growth through offering tools such as analytics.
The fund acquired through Series E will be invested in areas where the goal to enable small businesses to thrive will be achieved. This can only be achieved by creating a “small business platform”, and this will be possible through accelerating product development and building business alliances with partners.
About freee
freee provides Japanese SMBs with tools to automate their back office tasks and help their growth. The solutions that freee offers support the entire lifecycle of SMBs. freee K.K. was founded in July 2012 under the leadership of Daisuke Sasaki, who previously headed Google’s SMB marketing in the Asia Pacific region.
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