Japanese Cloud Accounting Firm, Freee, Nabs ¥3.5B in Series C Funding

Japanese Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term startup, Freee, has announced that it has closed a ¥3.5 billion ($29M) Series C funding round. The deal was led by DCM, Recruit Holdings, and Japan Co-Invest Limited Partnership, with total to date funding since 2012 for Freee at around $43 million.

A provider of Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term accounting software, Freee has been able to achieve growth for its product by targeting the small and medium sized business (SMB) market in Japan. According to Freee, its software has been used by 380,000 companies since its launch in 2012. For customers, the benefit of its product is a simplified solution for handling reporting of accounting related needs such as tracking revenues and expenses, reducing the need of manual hires. Specifically, Freee’s goal with its software is for it to be simple enough for users without financial and accounting expertise to use the product to cover their needs.

Within Japan, the funding is notable, as despite the country’s advancements in tech and establishment as a global economic leader, there is only a small but growing startup environment. In replace of startups, many larger firms create in-house innovation units to spearhead product creation as well as partner with foreign firms. As such, Freees’s funding is one of the largest rounds for a fintech startup.