KUALA LUMPUR, Aug 8 (Bernama) -- JPMorgan Chase & Co has made strategic investment in America’s leading small business accounting software, FreshBooks.
As part of the investment, a JPMorgan Chase representative will join FreshBooks’ board of directors.
The investment follows two previous institutional funding rounds for FreshBooks, namely a US$30 million Series A funding round in July 2014, and US$43 million Series B funding round in July 2017. (US$1=RM4.21)
FreshBooks chief executive officer (CEO) and co-founder, Mike McDerment said: “Our mission is to reshape the world to suit the needs of self-employed professionals and their teams.
“We see a significant opportunity to combine the strength and scale of JPMorgan Chase’s banking and payment capabilities with FreshBooks’ expertise in software design to create mass adoption for small businesses, and propel us closer to achieving that world.”
Meanwhile, according to Chase Merchant Services SMB Product head, Bill Clerico, FreshBooks is one of the smartest, easiest-to-use software options for small businesses.
Clerico is also CEO of WePay, the integrated payment business of JPMorgan Chase.
-- BERNAMA
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