# FastBill

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fastbill

- Industry: Software
- Headquarters: Offenbach am Main, Germany
- Website: www.fastbill.com
- Latest round: Series A (May 2, 2017)
- Investors on record: 2

## About

FastBill GmbH is a German company that provides an integrated accounting software solution, designed to simplify financial processes for small businesses and freelancers.Founded in 2011 and headquartered in Offenbach am Main, Germany, FastBill GmbH specializes in accounting software that enhances financial efficiency for small enterprises. The company was acquired by Freshbooks, Inc. in October 2021 from Coparion and FinLab AG, though financial terms were not disclosed. The CEO and founder, René Maudrich, has been instrumental in steering the company since its inception, focusing on meeting the accounting needs of self-employed individuals and small businesses in Germany and other German-speaking countries.FastBill offers an integrated accounting software solution designed to streamline the financial processes of small businesses and freelancers. The core functionality includes automated invoice creation, receipt management, and financial reporting, which collectively aim to reduce the administrative burden of bookkeeping. Users can create compliant invoices within minutes, send them via email or postal service, and receive payments online, enhancing cash flow management. FastBill also provides features such as document digitization and categorization, bank account reconciliation, and the generation of comprehensive financial reports. Its client base primarily consists of self-employed individuals and small enterprises operating in Germany and other German-speaking countries, addressing the need for efficient and user-friendly accounting tools.FastBill generates revenue primarily through subscription plans tailored to the needs of its diverse clientele, which includes freelancers and small businesses. The pricing structure typically includes various tiers of service, each offering different features related to invoicing and bookkeeping, thus allowing clients to select a plan that fits their operational scale and complexity. Customers subscribe to these plans on a recurring basis, ensuring a steady revenue stream for the company. The service model emphasizes value-added features such as automated reminders for unpaid invoices and customized financial reports, which enhance user retention and satisfaction. This approach effectively positions FastBill as a reliable partner in financial management for its users, creating a symbiotic relationship where the success of their clients translates into continued business for FastBill.Following its acquisition by Freshbooks, Inc. on October 7, 2021, FastBill aims to leverage its new partnership to expand its offerings and support small business owners throughout Germany and across Europe. The acquisition will facilitate the development of new products and services tailored specifically to the needs of its client base. FastBill is focused on enhancing its software capabilities, improving user experience, and potentially exploring new geographic markets in Europe. This growth strategy will likely be supported by the resources and network of Freshbooks, aligning with the overall goal of meeting the evolving demands of small businesses in an increasingly digital landscape.

## Funding rounds

- Series A, May 2, 2017 — FinLab AG, Coparion

## Investors

- FinLab AG — Series A
- Coparion (https://capitalatlas.ai/funds/coparion) — Series A