FreeAgent, an Edinburgh, Scotland, UK-based provider of cloud accounting software for micro-businesses and retailers, raised $5m in funding.
SaaS Capital made the investment.
The company intends to use the funds for customer acquisition.
Led by Ed Molyneux, CEO and Co-Founder, FreeAgent provides cloud-based accounting systems designed specifically for small businesses, freelancers and their accountants.
Launched in 2007, the company currently has more than 40,000 customers, which use its solution to their business accounts, track time, log their expenses, create and send invoices and forecast their tax bills.