FreshBooks economy reaches $1 Billion in just four months

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