FreshBooks economy reaches $1 Billion in just four months

by Rob Lewis

Toronto-based invoice startup FreshBooks announced today that they have crossed $1 Billion in billings paid worldwide over the FreshBooks ecosystem between January and May of this year. CEO Mike McDerment also provided an infographic to display activity based on country as well as some other stats.

  • The average invoice size on FreshBooks was US $1,677
  • Mexico and Sweden saw the largest invoice sizes with US $4,669 and US $4,423 respectively. India and Malaysia were the lowest with US $414 and US $406
  • Average invoice size for the U.S. was $919
  • The average time to pay was 22.8 days
  • China saw the shortest time to pay with 11.9 days, while India saw the largest at 31.7 days
  • Average time to pay for the U.S. was 20 days
Toronto, Ontario, Canada

In 2003, Mike McDerment, co-founder and CEO of FreshBooks, accidently saved over an invoice, snapped and decided to create a better way to manage his books and bill clients. Since then, FreshBooks has emerged as the #1 cloud accounting specialist for small business owners by helping more than 5 million people track time, organize expenses and invoice clients in the cloud. Known for... more

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more

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