Japanese startup freee, which provides online accounting software for baby businesses, appear that it has aloft $2.7 actor in Series A allotment from DCM and Infinity Venture Partners. Founded by Daisuke Sasaki, who ahead led Google’s small- to medium-sized business business in the Asia-Pacific region, freee targets Japanese SMBs that don’t appetite to acquirement big-ticket packaged software. freee will use its new allotment to advance artefact development.
Before his five-year assignment at Google, Sasaki served in business and banking positions at several startups. During that time, he became balked by the anachronous accounting methods still acclimated by abounding SMBs in Japan.
“You appetite to be able to blazon in abstracts one time and afresh reclaim it, but aboriginal bodies would accomplish invoices, afresh they would book those out and afresh a bookkeeper would blazon in the abstracts again. That’s stupid,” Sasaki tells me. “I saw that disability and I thought, okay, this will change. But afterwards alive at Google for bristles years, I didn’t see any change. So I saw there was an befalling to accomplish Japanese businesses added efficient.”
freee automates accounting by syncing with coffer and acclaim agenda accounts and allocation affairs through argument analysis. Japanese businesses can alike use freee to actualize banking statements for tax filing.
Sasaki says there are six actor SMBs in Japan and beneath than 1% assimilation for cloud-based accounting software, giving freee a ample advance opportunity. Since freee launched in March, 6,500 Japanese SMBs accept active up for the software’s chargeless trial.
The startup will use its Series A allotment to advance freee’s artefact development by accretion acclaim agenda and coffer coverage, amalgam the software with point-of-sale systems for banknote affairs and abacus accord appearance so advisers aural a aggregation can use freee to book amount letters and administer payrolls.
Sasaki says his aggregation will additionally abide to clarify freee’s user interface. “Most B2B software doesn’t pay abundant absorption to user experience, but SMBs are added like consumers. They don’t accept the time, so we appetite to accomplish the artefact absolutely affable for those businesses.”
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