Participated · Series E · Aug 2018

freee offers a software platform that automates accounting tasks for small businesses. The company was founded in 2012 by Daisuke Sasaki and launched its service in 2013. It has grown to over 1 million business accounts and more than 5,000 certified accountants advising clients on the platform. freee intends to use the new funding to accelerate growth and build a broader platform for small businesses. The company is based in Tokyo, Japan and has attracted multiple strategic and venture backers over time. freee offers a SaaS-based accounting platform designed for small and medium-sized businesses in Japan. The service is used by over 120,000 SMBs and was launched in March 2013. freee has expanded bank coverage to support 1,600+ local banks, added mobile apps for iOS and Android, and integrated with SMB tools such as Square and Recruit’s AirRegi. The company operates a freemium model; paid plans start at 980 JPY (~$10) per month per business. freee intends to continue product development and broaden feature integrations to strengthen its position in the Japanese SMB market. The company was founded in July 2012 by CEO Daisuke Sasaki. Freee provides online accounting software for Japanese SMBs that syncs with bank and credit card accounts to categorize income and spending and automate bookkeeping. The product supports over 1,600 local banks, offers iOS and Android apps, and integrates with SMB tools such as Square and AirRegi. Founded in July 2012 by Daisuke Sasaki and launched in March 2013, the service is used by over 70,000 SMBs in Japan. Since launch the company has expanded bank coverage and added features to improve the product. The company plans to use new funding to further product development, increase customer support capabilities, and expand marketing activities. The recent fundraise is part of the company’s efforts to scale its offering across Japanese SMBs. freee is a Japanese cloud-based accounting software startup that automates bookkeeping for small businesses. The product syncs with bank and credit card accounts and categorizes transactions using text analysis, and can generate financial statements for tax filing. Since launching in March, 6,500 Japanese SMBs have signed up for the software's free trial. Founder Daisuke Sasaki, who previously led SMB marketing at Google in Asia‑Pacific, built the product to address inefficient manual bookkeeping practices. The company cites roughly six million SMBs in Japan and less than 1% penetration for cloud-based accounting, indicating a sizable growth opportunity. freee plans to use funding to accelerate product development — increasing bank and credit card coverage, integrating with point-of-sale systems, adding collaboration and payroll features, and refining the user interface.