freee Receives $6M in Series B2 Funding

freee, a Tokyo, Japan-based SaaS accounting company, received $6m in Series B2 funding.

Backers in the round, which followed the Series B1 funding of $8m from DCM and Infinity Ventures (read here), included Pavilion Capital and Recruit Strategic Partners.

The company intends to use the funds to accelerate development and further strengthen its market position in the Japanese SMB market.

Founded in July 2012 by Daisuke Sasaki, CEO, freee provides a SaaS-based accounting platform used by over 120,000 SMBs in Japan. Launched in March 2013, freee has increased bank coverage (1,600+ local banks supported), adding features, launching iOS and Android apps, and integrating with major SMB tools such as Square and AirRegi (a POS app by Recruit). Its freemium model’s paid plan starts at 980 JPY (~10USD) per month per business.



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