Freeagent Strengths, Domain Expertise, and Key Differentiators
FreeAgent offers online accounting services used by thousands of freelancers and small businesses worldwide. It lets users send invoices, track time and expenses, analyze bank statements and build real-time accounts. FreeAgent already has customers in 80 different countries including several hundred in the United States.
Freeagent Recent Developments
In December 2020, FreeAgent launched a new feature to help customers stay on top of their business cashflow. The new functionality uses data from FreeAgent accounts - including invoices, bills, salary and upcoming tax liabilities - to automatically build a near-term cashflow forecast and proactively warn users about any financial issues that may be on the horizon.
In March 2020, FreeAgent launched Radar, a new feature designed to make customers more productive and better at business. The first area on Radar is the Admin To-Do List.
Freeagent Mergers and Acquisitions (M&A) Activities
FreeAgent was acquired by the Royal Bank of Scotland Group in early 2018.
Freeagent Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Freeagent applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Freeagent and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified FreeAgent customers.
Ownership: - x
Number of Employees: 200
Functional Markets: ERP Financial,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, Healthcare, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Freeagent Key Enterprise and Cloud Applications
Freeagent Revenues, $M:
|Type/Year||2020||2021||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Freeagent Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Freeagent Enterprise Applications Revenues By Functional Markets, $M:
Freeagent Enterprise Applications Revenues By Verticals, $M:
Freeagent Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
Freeagent Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
Freeagent Customers - Breakdown by Geo, Size, Vertical and Product
No. of Freeagent Customers: 90000
No. of Freeagent Enterprise Applications Customers: 90000
No. of Freeagent Cloud Customers: 90000
No. of Freeagent Cloud Subscribers: x
FreeAgent accounting software helps over 90,000 small businesses take care of their finances and its practice dashboard feature allows accountants and bookkeepers to manage their clients at a glance. Among FreeAgent customers are: Tony Pringle Plumbing and Heating, Paw Power, Jupiter and the Giraffe, Plymouth Software, Black Mocha, Kennedy City Bicycles, Hallway Studios, Wish UK, Seven Pixels, Hit Reach, Distinctly Digital, The Big Yum Ltd, Oxygen Webs, and many others.
Freeagent Market Opportunities, M&A and Geo Expansions
Freeagent’s next challenge is to scale out its accountant's network to better compete with incumbents that have already established long-standing relationships with these business and technology advisors. Pricing pressures could intensify as box-based accounting package vendors go downmarket through steep discounts to gain market and mind shares.
In 2019 FreeAgent has become the first UK accounting software to offer direct bank feeds via the Open Banking platform - giving customers even greater security and visibility over their business finances. The firm unveiled new Open Banking feeds for UK FreeAgent customers who bank with NatWest and Royal Bank of Scotland. Later, FreeAgent connects to CMA9 banks and enable a strong, robust flow of financial data is therefore a great achievement that shows we are at the vanguard of Open Banking for small businesses in the UK. The CMA9 connection means that FreeAgent will be able to provide Open Banking data feeds to customers of the following banks: AIB Group UK (trading as First Trust Bank in Northern Ireland), Bank of Ireland (UK), Barclays Bank HSBC Group (including First Direct and M&S), Lloyds Banking Group (including Bank of Scotland and Halifax), Nationwide Building Society, Northern Bank Limited (trading as Danske Bank), The Royal Bank of Scotland Group (including NatWest and Ulster Bank) and Santander UK.
Freeagent Risks and Challenges
The unconventional way for FreeAgent to obtain new financing raises the stake as well as its risks. On one hand, the decision not to turn to venture capitalists and other traditional means suggested that FreeAgent is living up to its name - not wanting to be controlled or influenced by outside investors. On the other hand, the modest amount of capital that has been raised calls into questions about whether it would turn to its customers and strangers repeatedly in order to sustain its growth and if it is under any fiduciary obligation to deliver any return, or for that matter to anyone.
Freeagent Ecosystem, Partners, Resellers and SI
FreeAgent works closely with a wide range of professional networks, small business accelerators and co-working spaces throughout the UK. Among its partners are: Creative Entrepreneurs, Bectu, Transmit Start-Ups, The Work Crowd, TechSPARK, Institute of Translation and Interpreting, Care Sourcer, PlumbAgent, ContractorUK, BizBritain, Nextfree, Seed Formations, Rapid Formations, Made Simple Group, The Formations Company, PracticeWEB, GrowQuality Company Formations, 1st Formations, Advantage Business Partnership, Great Business, LawBite, Company Bug, IT Contracting, Limited Company Help, IPSE, FCSA and others.
Freeagent has integrations with: Receipt Bank, Stripe, PayPal, Sellwire, Capsule CRM, Contactzilla, Fractal, Float, Nimbla, Satago, DoubleAgent, MobileAgent, Basecamp, Cushion, Cyclr, PieSync, Zapier and many others.
Freeagent Cloud Infrastructure Insights
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- Freeagent Public Cloud and Infrastructure (IaaS)
- Freeagent Platform (PaaS)
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- Freeagent Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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