Australian Startup Invoice2go Raises USD 35M in its First Round of Funding

Australia-based mobile invoicing app Invoice2go which helps small businesses to manage cash flow through easy-to-use invoicing, expense tracking and simple reporting tools, has secured USD 35 million funding, in a round led by Accel Partners and Ribbit Capital. The new funds will be used to build company’s global growth, hire additional talent internationally, as well as for product development and marketing.

As a part of this announcement, the company has appointed Greg Waldorf, CEO-in-Residence at Accel Partners, as Invoice2go’s new CEO and also planning to open a new office in Palo Alto, California.

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“Chris and the Australian team have done an incredible job building Invoice2go to become a market leader in mobile invoicing globally.” Greg Waldorf, CEO of Invoice2go, commented. “There is a tremendous market opportunity for this business and I’m thrilled to be coming on board at this point in the company’s history.”

Invoice2go was founded in 2002 by Australian developer, Chris Strode. Invoice2go business app extends over 50 countries, accounting for more than USD 10 billion of invoicing volume annually and is available on Android, iOS and web.

With the help of this app, customers get paid 7 days faster and save 3 hours per week on average. which improves cash flow and streamlines business operations. Over 124,000 + small businesses owners worldwide who trust it to manage their businesses.

Apart from this investment, Accel partners also invested in Atlassian, 99designs and Ozforex recently. Micky Malka, founder of Ribbit Capital, said “We have been tracking the success of Invoice2go for several years now. They have built unique trust with business owners around the globe by understanding their challenges and developing a mobile-first product to make their work more productive. We look forward to partnering with Chris and Greg on the next stage of growth.”

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