Notice of contract execution on the funding of a capital increase through 3rd-party allocation of newly issued shares by freee, provider of fully automatic cloud accounting software "freee"
Sep. 25, 2014
Recruit Holdings Co., Ltd.
Recruit Holdings Co., Ltd. (Recruit, Headquarters: Chiyoda-ku, Tokyo; President, CEO, and Representative Director: Masumi Minegishi; Recruit) reports, as described below, that it has executed a contract on the funding of a capital increase through a third-party share allocation for freee K.K. (Headquarters: Shinagawa-ku, Tokyo; CEO: Daisuke Sasaki; freee), which provides the fully automatic cloud accounting software "freee," through its investment subsidiary RSP Fund No. 5, LLC.
1. Goal of this investment
freee plans to use this funding to strengthen its R&D system for developing the fully automatic cloud accounting software "freee" and speed up its marketing activities. Through this investment, Recruit will be engaged in creating an environment in which private business owners and small and medium-sized companies can focus on their core business.
2. Overview of freee K.K.
freee's mission is to contribute to the activation of small businesses and promote innovation by making back office work automated through technology that empowers managers running small businesses to focus on their creative activities. As a first step, freee released the fully automatic cloud accounting software "freee" in March 2013 for the purpose of freeing companies from accounting work, which is huge burden to any business, and has been operating "freee" since then.
|(1)||Company name||freee K.K.|
|(3)||Headquarters||1-18-9 Nishi-Gotanda, Shinagawa-ku, Tokyo, Japan|
|(4)||Established||July 9, 2012|
|(5)||Main business||Operation of cloud accounting software "freee"|
3. Overview of RSP Fund No. 5, LLC
|(1)||Company name||RSP Fund No. 5, LLC|
|(3)||Headquarters||8-4-17 Ginza, Chuo-ku, Tokyo|
|(4)||Established||May 7, 2013|
|(5)||Main business||Investment development and venture capital|
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