FreshBooks
D · Extended EcosystemSubsidiaryFreshBooks simplifies accounting for small business owners and freelancers with intuitive invoicing, expense tracking, and time management tools that require no accounting expertise.
Last updated Mar 7, 2026 by AI Enrichment
- Industry
- Not AdTech - Accounting/Financial Software
- Business Model
- SaaS
- Target Market
- SMB
- Employee Count
- 201-500
- Funding
- $90M
- Revenue Range
- $50M-$100M
- Stock Symbol
- NASDAQ:FSH
- Parent Company
- BDC Capital and JPMorgan Chase consortium
- API Available
- Yes
Market Position
Leading cloud-based accounting software for small businesses and freelancers
Overview
FreshBooks is a cloud-based accounting software platform that provides invoicing, expense tracking, time tracking, and financial reporting tools specifically designed for small business owners, freelancers, and self-employed professionals. Founded in 2003 when CEO Mike McDerment accidentally saved over an invoice he had created in Microsoft Word, the company has grown to serve millions of users worldwide with its user-friendly accounting solution that emphasizes simplicity and automation. While FreshBooks operates in the financial technology and small business software space rather than advertising technology, it has established itself as a leading accounting platform for service-based businesses. The company offers features including automated billing, payment processing, project management, and client collaboration tools. In 2021, FreshBooks was acquired by a consortium led by BDC Capital and JPMorgan Chase, operating as a subsidiary while maintaining its brand and product identity. FreshBooks continues to serve its core market of small businesses and self-employed professionals, competing with platforms like QuickBooks, Xero, and Wave. The company maintains its headquarters in Toronto, Canada, and continues to develop its platform with regular feature updates and integrations with other business tools.
Products & Features
Invoicing
Automated invoice creation, customization, and recurring billing capabilities
Expense Tracking
Receipt capture, expense categorization, and mileage tracking
Time Tracking
Project-based time tracking with billable hours management
Payment Processing
Integrated payment acceptance through credit cards and ACH
Reporting
Financial reports including profit and loss, tax summaries, and expense reports
Project Management
Project tracking, collaboration tools, and client communication features
Key Features
Automated invoicing and recurring billingMobile receipt capture and expense trackingTime tracking with project managementOnline payment processingClient portal for collaborationDouble-entry accountingMulti-currency supportAutomated late payment remindersProposal creationTeam collaboration tools
Use Cases
Freelance professionals managing invoicing and expensesSmall service-based businesses tracking billable hoursConsultants creating proposals and tracking project profitabilityCreative agencies managing multiple client projectsIndependent contractors handling tax preparationSmall teams collaborating on client billing
Customer Segments
Freelancers and self-employed professionalsSmall service-based businessesCreative agenciesConsultants and professional servicesContractors and tradespeopleSmall teams (under 50 employees)