The start-up has a new owner. As announced by the fintech, Canadian start-up FreshBooks has acquired the Frankfurt-based company.
Frankfurt company Fastbill is now owned by FreshBooks, a Canadian start-up with unicorn status. The employees and services are acquired by Fastbill and integrated into Freshbooks. Fastbill founder René Moudrich will continue to be the CEO and Managing Director of FreshBooks Germany. Commenting on the purchase, he said, “FreshBook’s acquisition of Fastbill is a win. With bundled efficiencies, we can expand our range and more specifically and quickly meet the needs of small businesses in Germany and across Europe.” can complete.”
Both support small and medium-sized companies as well as the self-employed in fintech accounting. Maurich co-founded Fastbill with Christian Hafner in 2011. Four years ago the Frankfurt Company first raised money from investors. The start-up currently has clients in 16 European countries, which Fastbill is now taking with them on FreshBooks. Canadians recently raised $120 million for a one-billion dollar valuation. A part of the money will surely go to the acquisition of Fastbill, nothing is known about the exact amount finance forward But are in the upper double-digit million range.
FreshBooks CEO Don Epperson is pleased with the companies’ merger: “Fastbill has a similar philosophy and corporate culture to ours, and so the acquisition surprisingly reinforces our strategy to grow globally.” Fintech offers its platform in 160 countries and has offices in Canada, Croatia, Mexico, the Netherlands, and the United States.
In a personal communication, Maurich explains that “even though Fastbill is now part of a larger international company”, the result will not be “a step back” for customers, but a reliance on “committed customer service, consistency and continuous product improvement”. Can do. .
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