Morgan Stanley Investment Management Provides $125 Million Debt Financing to FreshBooks
Morgan Stanley Investment Management has provided $125 million in senior debt financing to FreshBooks, a leading cloud-based accounting software provider for small businesses. The investment, managed by Morgan Stanley Expansion Capital and Morgan Stanley Private Credit, will refinance existing debt and support FreshBooks' growth initiatives.
Toronto-based FreshBooks offers SaaS software focused on service-based SMBs in the U.S. and Canadian markets. Their platform enables businesses to manage invoicing, payments, time tracking, and payroll processing. The company is positioned to benefit from key market trends including digital transformation and global e-invoicing adoption.
Morgan Stanley Investment Management ha fornito 125 milioni di dollari in finanziamenti di debito senior a FreshBooks, un fornitore leader di software di contabilità basato su cloud per piccole imprese. L'investimento, gestito da Morgan Stanley Expansion Capital e Morgan Stanley Private Credit, andrà a rifinanziare il debito esistente e a sostenere le iniziative di crescita di FreshBooks.
FreshBooks, con sede a Toronto, offre software SaaS focalizzato sulle PMI basate su servizi nei mercati statunitensi e canadesi. La loro piattaforma consente alle aziende di gestire fatturazione, pagamenti, monitoraggio del tempo e elaborazione delle buste paga. L'azienda è posizionata per beneficiare di tendenze di mercato chiave, tra cui la trasformazione digitale e l'adozione globale della fatturazione elettronica.
Morgan Stanley Investment Management ha proporcionado 125 millones de dólares en financiamiento de deuda senior a FreshBooks, un proveedor líder de software de contabilidad basado en la nube para pequeñas empresas. La inversión, gestionada por Morgan Stanley Expansion Capital y Morgan Stanley Private Credit, refinanciará la deuda existente y apoyará las iniciativas de crecimiento de FreshBooks.
FreshBooks, con sede en Toronto, ofrece software SaaS enfocado en las pymes basadas en servicios en los mercados de EE. UU. y Canadá. Su plataforma permite a las empresas gestionar la facturación, los pagos, el seguimiento del tiempo y el procesamiento de nómina. La empresa está posicionada para beneficiarse de tendencias clave del mercado, incluyendo la transformación digital y la adopción global de la facturación electrónica.
모건 스탠리 투자 관리는 프레시북스에 1억 2500만 달러의 고위험 채무 자금을 제공했습니다. 프레시북스는 중소기업을 위한 클라우드 기반 회계 소프트웨어 제공업체입니다. 이 투자는 모건 스탠리 확장 자본 및 모건 스탠리 개인 신용이 관리하며, 기존 부채를 재융자하고 프레시북스의 성장 이니셔티브를 지원할 것입니다.
토론토에 본사를 둔 프레시북스는 미국 및 캐나다 시장의 서비스 기반 중소기업에 초점을 맞춘 SaaS 소프트웨어를 제공합니다. 이들의 플랫폼은 기업이 청구서 발행, 결제, 시간 추적 및 급여 처리를 관리할 수 있도록 합니다. 이 회사는 디지털 전환 및 글로벌 전자 청구서 수용과 같은 주요 시장 트렌드로부터 혜택을 볼 수 있는 위치에 있습니다.
Morgan Stanley Investment Management a fourni 125 millions de dollars en financement de dette senior à FreshBooks, un fournisseur de logiciels de comptabilité basé sur le cloud pour les petites entreprises. L'investissement, géré par Morgan Stanley Expansion Capital et Morgan Stanley Private Credit, refinancera la dette existante et soutiendra les initiatives de croissance de FreshBooks.
FreshBooks, basé à Toronto, propose un logiciel SaaS axé sur les PME de services sur les marchés américain et canadien. Leur plateforme permet aux entreprises de gérer la facturation, les paiements, le suivi du temps et le traitement des paies. L'entreprise est bien positionnée pour bénéficier des tendances clés du marché, notamment la transformation numérique et l'adoption mondiale de la facturation électronique.
Morgan Stanley Investment Management hat 125 Millionen Dollar an vorrangiger Schuldenfinanzierung an FreshBooks bereitgestellt, einen führenden Anbieter von cloudbasierter Buchhaltungssoftware für kleine Unternehmen. Die Investition, die von Morgan Stanley Expansion Capital und Morgan Stanley Private Credit verwaltet wird, wird bestehende Schulden refinanzieren und die Wachstumsinitiativen von FreshBooks unterstützen.
FreshBooks mit Sitz in Toronto bietet SaaS-Software, die sich auf dienstleistungsbasierte KMU in den Märkten der USA und Kanada konzentriert. Ihre Plattform ermöglicht es Unternehmen, Rechnungsstellung, Zahlungen, Zeiterfassung und Lohnverarbeitung zu verwalten. Das Unternehmen ist in einer Position, von wichtigen Markttrends wie digitaler Transformation und globaler Einführung der elektronischen Rechnungsstellung zu profitieren.
- Secured substantial $125 million debt financing for growth and refinancing
- Strong market positioning in digital transformation and e-invoicing sectors
- Established presence in U.S. and Canadian markets
- Existing debt requiring refinancing
- Operates in competitive SaaS accounting software market
Insights
Morgan Stanley Investment Management's
This transaction reflects two key aspects of MS's business strategy: growth in private credit offerings and targeted exposure to SaaS business models with recurring revenue. The debt financing structure is noteworthy - by providing senior debt rather than equity, Morgan Stanley secures a predictable income stream while minimizing downside risk compared to equity investments.
For context, this
The deal aligns with broader trends in financial services as investment banks expand their private credit operations amid growing institutional investor demand for alternatives to traditional fixed income. By targeting FreshBooks, which focuses on SMB accounting software with e-invoicing and payment processing capabilities, MS is positioning within the ongoing digital transformation of financial operations.
The refinancing component suggests MS may be capturing market share from other lenders while providing growth capital that could generate future investment banking opportunities if FreshBooks pursues strategic transactions or public offerings.
Pete Chung, Head of Morgan Stanley Expansion Capital, and Ashwin Krishnan, North America Co-head of Morgan Stanley Private Credit, said: “We are pleased to be FreshBooks’ financing partner. We believe FreshBooks’ SaaS accounting software benefits from strong secular tailwinds, including increasing digital transformation and a shift to global e-invoicing and payments digitization. We believe FreshBooks has a tremendous market opportunity ahead of it and are confident that our growth credit and capital solutions teams are uniquely positioned to support FreshBooks in this important stage of its growth.”
“We’re thrilled to partner with Morgan Stanley’s Expansion Capital and Private Credit groups, who support our vision of empowering small business owners through technology. FreshBooks looks forward to leveraging their expertise in this next chapter of growth,” said Shaheen Javadizadeh, CEO at FreshBooks.
The FreshBooks investment was led by Morgan Stanley Executive Director Nick Nocito.
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets late-stage growth equity and credit investments within consumer, technology, healthcare, and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.
About Morgan Stanley Private Credit
Morgan Stanley Private Credit, part of Morgan Stanley Investment Management, is a private credit platform focused on direct lending and opportunistic private credit investment in
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,400 investment professionals around the world and
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.
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Media Relations Contact: Alyson Barnes
alyson.barnes@morganstanley.com
Source: Morgan Stanley Investment Management
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