Artwork

Innhold levert av Jörn "Joe" Menninger. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Jörn "Joe" Menninger eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
Player FM - Podcast-app
Gå frakoblet med Player FM -appen!

Fastbill’s Exit to Canada Based Unicorn FreshBooks

39:50
 
Del
 

Arkivert serier ("Inaktiv feed" status)

When? This feed was archived on February 13, 2022 21:22 (2y ago). Last successful fetch was on December 23, 2021 10:37 (2+ y ago)

Why? Inaktiv feed status. Våre servere kunne ikke hente en gyldig podcast feed for en vedvarende periode.

What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 307477916 series 2579218
Innhold levert av Jörn "Joe" Menninger. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Jörn "Joe" Menninger eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

The Enabler

This interview was made possible by Hessen Trade and Invest with their brand Invest-in-Hessen. You can learn more about them here (https://www.invest-in-hessen.com/). We also run a dedicated sub-podcast with all interviews and news in cooperation with them. Find it all here: https://anchor.fm/techstartupsgermany

We started serveral early SaaS Platforms and Fastbill was one of them. We just solved our problems at the time. René Maudrich, MD Germany FreshBooks

The Founder

In this interview, we talk to one of the most experienced fintech founders in the greater Frankfurt area. René Maudrich (https://www.linkedin.com/in/renemaudrich/) is the CEO and founder of Frankfurt-based accounting and invoicing fintech Fastbill. They have been bought by Toronto, Canada-based, fintech unicorn Freshbooks (https://www.freshbooks.com/). He now holds the position of managing director of FreshBooks Germany.

Want to be found by Business opportunities or contacted by new investors?

Get scouted by us, when we a have matching mandate and enroll your startup in our database: https://forms.gle/DmPtBKJH7MMmJoYo8 We don’t sell your data or spam you. We will even reach out to you before we include you in a scouting mandate.


We became a top 3 provider in GSA (Germany, Switzerland and Austria), but we also have clients in 13 other countries. René Maudrich, MD Germany FreshBooks


The Startup

Fastbill (https://www.fastbill.com/) was one of the early fintech startups, that have been around, before fintech was a thing. They help small companies and freelancers with their invoicing and accounting. They are a top 3 provider for this kind of software in Germany. You can learn more about them here:

Also, Mario (https://www.linkedin.com/in/mahachemer/), the CTO of Fastbill has been a frequent guest. Mario is also part of the frequent crew of our annual fintech review. You can learn more about the company, him, and René in our interviews linked below.

We bootstrapped for six years before we took VC money. That was a bit too late. I would recommend it later. René Maudrich, MD Germany FreshBooks

The Exit

FreshBooks already knew Fastbill from events. FreshBooks was interested in purchasing a stake in Fastbill with their next investment round. During the conversation, they decided on an outright takeover. FreshBooks now owns all equity in Fastbill and the core team with René, Mario and Benjamin stay on board. All former Fastbill shareholders are now FreshBooks shareholders.

The Fastbill team is not permitted to speak about the transaction price. We can make estimates about the price range:

In 2019 they had approx. 2.5 mn Euros revenue (according to estimates in several databases). Assuming a growth to 3 or even 5 mn Euros annualized revenue in 2021 one can estimate the range of the transaction volume with normal multiples from 45 mn Euros at the low end to 110 mn € at the higher end, adding an “earn-out clause” of approx. 10% over the next few years.

Find all links, show notes and further readings here: https://www.startuprad.io/blog/fastbills-exit-to-canada-based-unicorn-freshbooks/

--- Send in a voice message: https://anchor.fm/techstartupsgermany/message
  continue reading

48 episoder

Artwork
iconDel
 

Arkivert serier ("Inaktiv feed" status)

When? This feed was archived on February 13, 2022 21:22 (2y ago). Last successful fetch was on December 23, 2021 10:37 (2+ y ago)

Why? Inaktiv feed status. Våre servere kunne ikke hente en gyldig podcast feed for en vedvarende periode.

What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 307477916 series 2579218
Innhold levert av Jörn "Joe" Menninger. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Jörn "Joe" Menninger eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

The Enabler

This interview was made possible by Hessen Trade and Invest with their brand Invest-in-Hessen. You can learn more about them here (https://www.invest-in-hessen.com/). We also run a dedicated sub-podcast with all interviews and news in cooperation with them. Find it all here: https://anchor.fm/techstartupsgermany

We started serveral early SaaS Platforms and Fastbill was one of them. We just solved our problems at the time. René Maudrich, MD Germany FreshBooks

The Founder

In this interview, we talk to one of the most experienced fintech founders in the greater Frankfurt area. René Maudrich (https://www.linkedin.com/in/renemaudrich/) is the CEO and founder of Frankfurt-based accounting and invoicing fintech Fastbill. They have been bought by Toronto, Canada-based, fintech unicorn Freshbooks (https://www.freshbooks.com/). He now holds the position of managing director of FreshBooks Germany.

Want to be found by Business opportunities or contacted by new investors?

Get scouted by us, when we a have matching mandate and enroll your startup in our database: https://forms.gle/DmPtBKJH7MMmJoYo8 We don’t sell your data or spam you. We will even reach out to you before we include you in a scouting mandate.


We became a top 3 provider in GSA (Germany, Switzerland and Austria), but we also have clients in 13 other countries. René Maudrich, MD Germany FreshBooks


The Startup

Fastbill (https://www.fastbill.com/) was one of the early fintech startups, that have been around, before fintech was a thing. They help small companies and freelancers with their invoicing and accounting. They are a top 3 provider for this kind of software in Germany. You can learn more about them here:

Also, Mario (https://www.linkedin.com/in/mahachemer/), the CTO of Fastbill has been a frequent guest. Mario is also part of the frequent crew of our annual fintech review. You can learn more about the company, him, and René in our interviews linked below.

We bootstrapped for six years before we took VC money. That was a bit too late. I would recommend it later. René Maudrich, MD Germany FreshBooks

The Exit

FreshBooks already knew Fastbill from events. FreshBooks was interested in purchasing a stake in Fastbill with their next investment round. During the conversation, they decided on an outright takeover. FreshBooks now owns all equity in Fastbill and the core team with René, Mario and Benjamin stay on board. All former Fastbill shareholders are now FreshBooks shareholders.

The Fastbill team is not permitted to speak about the transaction price. We can make estimates about the price range:

In 2019 they had approx. 2.5 mn Euros revenue (according to estimates in several databases). Assuming a growth to 3 or even 5 mn Euros annualized revenue in 2021 one can estimate the range of the transaction volume with normal multiples from 45 mn Euros at the low end to 110 mn € at the higher end, adding an “earn-out clause” of approx. 10% over the next few years.

Find all links, show notes and further readings here: https://www.startuprad.io/blog/fastbills-exit-to-canada-based-unicorn-freshbooks/

--- Send in a voice message: https://anchor.fm/techstartupsgermany/message
  continue reading

48 episoder

Alle episoder

×
 
Loading …

Velkommen til Player FM!

Player FM scanner netter for høykvalitets podcaster som du kan nyte nå. Det er den beste podcastappen og fungerer på Android, iPhone og internett. Registrer deg for å synkronisere abonnement på flere enheter.

 

Hurtigreferanseguide

Copyright 2024 | Sitemap | Personvern | Vilkår for bruk | | opphavsrett