Tech & Science FreshBooks acquires Mexico-Primarily based E-Invoicing Corporate Facturama, Additional Increasing...

FreshBooks acquires Mexico-Primarily based E-Invoicing Corporate Facturama, Additional Increasing Its Global Presence

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Toronto, CANADA, Sept. 23, 2020 (GLOBE NEWSWIRE) — FreshBooks, the #2 small industry accounting instrument in The united states, with paying shoppers in 100+ international locations, lately introduced its acquisition of Facturama. Primarily based in San Luis Potosi, Mexico, Facturama is helping 19,000+ self-employed execs, small companies and startups handle higher keep an eye on in their price range via digital bill control, reporting and different organizational products and services.  The corporate is one in every of few instrument suppliers within the area this is recently compliant with Mexico’s complex digital invoicing and accounting rules. Supported through FreshBooks, Facturama’s provider will permit for higher scaling features in Mexico, the place the small industry marketplace is important and increasing. The acquisition quantity has no longer been disclosed.

Following the purchase, Facturama’s crew, together with CEO and Co-founder, Humberto Ramirez López and Co-founder and Leader Running Officer, Martin Arochi, might be becoming a member of FreshBooks. Ramirez will stay CEO of Facturama, along with changing into Managing Director of FreshBooks for Mexico, and can lead the growth into the area. The Facturama crew might be founded in San Luis Potosi, Mexico at Facturama’s headquarters.

“The Facturama crew has constructed a super industry serving to Mexico-based small industry homeowners be triumphant, and I’m excited to welcome the crew and 19,000 marketers to the FreshBooks circle of relatives,” mentioned Mike McDerment, CEO and Co-founder of FreshBooks. “It’s nonetheless tougher than it will have to be to run your personal industry. In Mexico, 65 p.c of small companies don’t continue to exist previous their 2d 12 months, and it’s in large part as a result of money go with the flow control problems. Combining Facturama’s regional experience with FreshBooks’ on-line bills and scaling experience will boost up our skill to raised serve Mexico’s increasing small industry and startup marketplace.”

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There are recently greater than four million registered small companies, and tens of millions of microbusinesses in Mexico, and just about 25% of Mexico’s personnel is self-employed. 

“That is nice information for small industry homeowners in Mexico, and it’s a super milestone within the Facturama adventure as a result of we will have many extra assets to beef up our shoppers and workers,” mentioned Humberto Ramirez López, CEO and Co-founder of Facturama. “We’re extremely fascinated by the chance to paintings below FreshBooks’ world logo and ship our instrument and products and services at a wholly new scale.” 

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Facturama was once based in 2012 through Ramirez and Arochi, and was once selected as some of the 500 Startups portfolio firms in 2013.

“During the last decade, 500 Startups has sponsored greater than 2,400 firms in 75+ international locations, together with 170 firms in LATAM” mentioned Santiago Zavala, founding father of Mexican.VC and Spouse at 500 Startups. “We’re at all times excited when firms we put money into draw in hobby from global firms, and we will be able to’t wait to look how FreshBooks and the nice crew at Facturama can develop their footprint within the Mexican marketplace.” 

Since 2004, FreshBooks has helped greater than 20 million other people in 100+ international locations to procedure billions of bucks via its easy-to-use invoicing, accounting, time-tracking, expense control, and on-line bills options. FreshBooks has shoppers in 25+ international locations throughout Latin The united states and the Caribbean, with Mexico recently being the most important. Inside the remaining two years, the corporate has considerably expanded its world footprint, formally launching in the United Kingdom and Eire, and opening up global places of work in the usand the Netherlands, in addition to a fast-growing construction hub in Croatia.

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About FreshBooks

FreshBooks is the #2 small industry accounting instrument in The united states, with paying shoppers in 100+ international locations. The corporate has helped greater than 20 million other people procedure billions of bucks via its easy-to-use invoicing, time-tracking, expense control, and on-line bills options. Identified with 10 Stevie awards for the most productive customer support on this planet, the corporate’s mantra is to “execute atypical reviews on a regular basis.” FreshBooks is headquartered in Toronto, Canada, with places of work in Amsterdam, Netherlands, and Raleigh, North Carolina, USA. Be told extra at www.FreshBooks.com

Katey Townshend
FreshBooks
1-888-705-1218
[email protected]

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