Toronto-based FreshBooks has secured $125 million in senior debt financing from Morgan Stanley Investment Management. The funds, managed by Expansion Capital and Private Credit arms, will be used to refinance existing debt and fuel growth across North America. FreshBooks’ cloud-based SaaS platform serves small and medium-sized businesses, offering tools for invoicing, payments, time tracking, and payroll.
CEO Shaheen Javadizadeh welcomed the partnership, citing shared commitment to empowering small business owners. Morgan Stanley executives highlighted the company’s strong market positioning amid growing demand for digital accounting and e-invoicing solutions. FreshBooks was founded in 2003.
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