Japan’s MakeLeaps, cloud-based invoicing startup, announces acquisition by Ricoh

Japan’s MakeLeaps, cloud-based invoicing startup, announces acquisition by Ricoh

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See the original story in Japanese.

Tokyo-based MakeLeaps, the startup behind a cloud-based invoicing platform under the same name, announced on Friday that it has agreed to be acquired by Japanese photocopier giant Ricoh (TSE:7752). The acquisition price is not disclosed but Nikkei estimated it to be tens of million US dollars in their report. Ricoh is scheduled to complete acquiring all MakeLeaps shares on November 30.

As far as has been disclosed, MakeLeaps raised several million US dollars from Rakuten Ventures in a series A round back in July of 2016, an undisclosed sum from Kima Ventures (a seed startup-focused fund led by renowned French entrepreneur Xavier Niel) in a seed round back in September of 2014, plus $600,000 from AngelList, Dave McClure and other investors in an angel round back in August of 2014.

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MakeLeaps CEO Jay Winder delivers his pitch at B Dash Camp 2015 Spring in Fukuoka.
Image credit: Masaru Ikeda

Since its launch in October 2011 by Australian serial entrepreneur Jay (Jason) Winder, MakeLeaps has been offering an invoicing platform that targets freelancers as well as small/medium-sized enterprises. Their users can simplify and streamline their process of issuing estimates, purchase orders, bills, receipts, etc. in addition to even mailing all these to their clients.

According to Ricoh’s announcement, the company expects to integrate MakeLeaps solutions to its photocopiers and multi-functional printing machines while adding on to various third-party systems for customer management, accounting and sales management, aiming to transform into a B2B platform operator by helping enterprises digitalize their workflows. MakeLeaps CEO Winder says in his statement that there will be no change in service offerings and terms of delivery even after the acquisition.

Translated by Masaru Ikeda
Edited by “Tex” Pomeroy