FreshBooks, a Toronto, Canada-based provider of accounting software with paying customers in 160+ countries, secured a $100m USD syndicated debt facility with BMO Financial Group (BMO) and J.P. Morgan (JPM).
The facility also includes an uncommitted accordion feature of $25 million USD, for a total borrowing capacity of up to $125m USD.
This debt facility will enable FreshBooks to continue its rapid global expansion plans, including strategic acquisitions and investment into more regulated markets.
Led by Don Epperson, CEO, FreshBooks provides an owner-first accounting platform used by businesses in over 160 countries, which takes an easy-to-use approach to managing finances, billing, payments, and client engagement. The company serves customers of all sizes from offices in Canada, Croatia, Germany, Mexico,
In August, 2021, FreshBooks announced that it had secured $130 million USD. Over the last two years, the company has acquired Germany-based, invoicing and financial management software company Fastbill, and Mexico-based, e-invoicing company Facturama.