RALEIGH – FreshBooks, a fast-growing fintech entrepreneuruial company based in Canada and backed by banking giant JPMorgan Chase, is opening its first office in the US with HQ Raleigh serving as its host.

The company, which focuses on accounting software and says it is the No. 2 player in that field among small businesses, mulled expansion to several cities before settling on the Triangle region.

“We considered a number of cities for our first U.S. office, but Raleigh and the Research Triangle area were the clear winner due to the region’s strong talent and mature IT and tech community,” said Scott Clugston, Senior Director of Sales at FreshBooks, in a statement. “We’re eager to put down roots in Raleigh and to help more of America’s small business owners grow and succeed.”


And the startup has aggressive plans for growth.

“They will start out of HQ but grow pretty quickly after that.,” says Jess Porta, director of HQ Raleigh.

“They offer a product similar to Quickbooks. We are so excited to have them!”

Freshbooks is looking to add employees for sales, account management and business development team in Raleigh.

HQ Raleigh’s community of some 300 companies with more than 800 employees in all across multiple locations.

Targeting small businesses

“At FreshBooks, we have served small businesses and self-employed professionals across America for over 10 years. This has laid the foundation for what we’re building today – our first office in the U.S.,” said Mike McDerment, CEO and Co-Founder at FreshBooks, in a statement.

“Following upon the opening of our first international office in Amsterdam [in October], we see our new home in Raleigh as an important step towards building our global presence as a company. This moves us further toward our goal of reaching more small businesses across the U.S. and around the world.”

FreshBook, which launched in 2004 and is based in Toronto, says it has customers in 160 countries.

“We’re pleased to welcome FreshBooks to our community and to the Raleigh area, and look forward to having them join our network of innovative entrepreneurs,” Porta said in the announcement. “Our mission is to foster inclusive communities of entrepreneurs who create lasting economic and social impact, and we see FreshBooks as a great example of a company that aligns well with that goal.”