Frilans Finans

About Frilans Finans

Frilans Finans operates as a pivotal platform for self-employed individuals, often referred to as an umbrella company, enabling them to invoice clients without the need to establish their own legal business entity. The company was founded in 1999 by Stephen Schad, who continues to serve as the CEO. The inception of the business stemmed from Schad's experience running an artist agency in the mid-1990s, where his proficiency in administration and taxes led musicians and artists to ask him to handle their invoicing for a percentage of the fee. This arrangement formed the basis of what would become Frilans Finans.

The company targets a broad market of freelancers and independent contractors across a multitude of industries, evolving from its initial focus on creative professions to serve a diverse client base. The business model is structured around a service fee, charging a commission of up to 6% of the invoiced amount. This fee covers all administrative responsibilities, including tax management, employer contributions, and social security payments, effectively making the freelancer an employee of Frilans Finans for the duration of their assignment. This structure provides the user with comprehensive insurance and the simplicity of receiving a net salary without managing complex paperwork. The company offers salary payment within approximately five business days and an express payment option for same-day transfers.

Operationally, a freelancer finds an assignment, agrees on the terms with their client, and then uses the Frilans Finans platform to generate an invoice. Frilans Finans sends the invoice to the end client and handles all subsequent financial administration, including debt collection if necessary. The platform also accommodates the inclusion of expenses in invoices, which can be reimbursed tax-free according to Swedish regulations. Since its founding, the company has expanded its services beyond Sweden, operating under the Frilans Finans brand in Norway and as Invoicery in Finland, Denmark, and France. In 2023, the company merged with SPACtvå in a reverse acquisition, becoming part of the Invoicery Group AB.