DLA Piper advises shareholders of FinTech-startup FastBill on sale to FreshBooks

DLA Piper has advised the shareholders of FastBill, one of Germany's leading cloud accounting and invoicing software solutions, on the sale of FastBill to FreshBooks, a leading cloud accounting software provider from Canada. Together, FreshBooks and FastBill will unlock new platform capabilities and expand into regions where the small business market is significant and growing. The terms of the transaction have not been disclosed.

Founded in 2011 in Frankfurt, Germany, FastBill helps self-employed professionals, small businesses, and startups maintain better control of their finances through electronic invoice management, reporting, and access to tax advisory services. The online platform automates accounting processes and helps tens of thousands of businesses to be more successful through simplified workflows and intelligent financial insights. FastBill currently supports paying customers in 16 different countries across Europe.

FreshBooks is an owner-first accounting platform used by businesses in over 160 countries. The company takes an easy-to-use approach to managing finances, billing, payments, and client engagement and serves customers of all sizes from offices in Canada, Croatia, Mexico, Netherlands, and the US.

The DLA Piper team was led by partner Simon Vogel and counsel Dr Christoph Dachner (both Corporate/Private Equity, Munich). In addition, partners Pascal Kremp (Employment, Munich) and Dr Konrad Rohde, counsel Dr Raimund Behnes (both Tax, Frankfurt) as well as associates Dr Felisa Frey (Employment) and Oliver Schmidt (Corporate/Private Equity, both Munich) were involved.