Freee proved again today that accounting software-as-a-service (SaaS) companies can be a hot commodity by revealing a US$6 million series B2 round of funding. This round was led by Pavilion Capital and Recruit Strategic Partners. It comes after a series B1 round of US$8 million in April. At that time, DCM and Infinity Ventures Partners were providing the funding.
Founded in 2012 by ex-Googler Daisuke Sasaki, the service is now used by over 120,000 small or medium-sized businesses (SMBs) in Japan. Freee is linked up with local banks and payment providers in order to make bookkeeping easy for business owners. It can also assist with other functions like tax filing and payroll management. ...continue reading ...
Tech in Asia 9/25/2014 [en]
- A competition among SaaS accounting service is getting fierce. But, the market for SMB to be covered is still very large. The competition may last for many years.