morning by Green Invoice

Name

morning by Green Invoice

Legal name

Morning (formerly Green Invoice)

Website

https://greeninvoice.co.il

Company type

Private

Founded year

2014

Operating status

Acquired

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Invoicing and Business Management Software

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

Keywords

• Invoicing software
• Business management SaaS
• Freelancer accounting tools
• Expense tracking platform
• Billing automation software

Headquarters

HQ city

Tel Aviv-yafo

HQ country

Israel

HQ region

Middle East

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Subscription: Invoicing and business management tools for freelancers, likely subscription-based SaaS model given the product type and B2B nature.

Go-to-market motion1 record

Core offering

Morning (formerly Green Invoice) provides a cloud-based SaaS platform that enables freelancers and small businesses to create and send invoices, manage clients, track expenses, and run day-to-day business administration from a single unified system. The offering is delivered through a freemium/self-serve model targeting self-employed professionals and small business operators in Israel, with planned expansion across Europe and the Mediterranean under TeamSystem ownership.

Differentiator

Problem solved

Functional benefit

Products and services

• Morning (formerly Green Invoice) Cloud-based SaaS platform that enables freelancers and small businesses to create and send invoices, manage clients, track expenses, and run day-to-day business administration in a single unified system. Offered via a freemium, self-serve model targeting the Israeli self-employed market with planned expansion across Europe and the Mediterranean.

Quantifiable outcome

• Grew from 20,000 to 150,000 users over approximately 7 years

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• TeamSystemcoreStrategic or Co-development Partner · 2 January 2025Italian fintech giant TeamSystem acquired Morning (formerly Green Invoice) for $150 million. Founders retained approximately 30% equity each. CEO Lior Wilczynski continues leading the company under new ownership. TeamSystem plans to leverage the company's features for other markets as part of its acquisition strategy of market leaders across Europe and the Mediterranean.

Scale indicators4 records

Direct peers

• FreshBooks: Canadian invoicing and accounting SaaS focused on freelancers, self-employed professionals, and small service businesses — directly overlapping Morning's freelancer persona, feature set (invoicing, expense tracking, time/billing), and PLG/freemium GTM.
• Bonsai: All-in-one freelancing platform with invoicing, contracts, proposals, time tracking, and accounting — directly comparable to Morning in persona (freelancers), product surface, and self-serve SaaS model.
• Wave Financial: Provides free and paid invoicing, accounting, and receipt-scanning tools for freelancers, solopreneurs, and very small businesses — same horizontal freelancer persona, similar freemium-led acquisition model, and overlapping invoicing-first product surface.
• HoneyBook: Business management platform for independent service-based businesses, combining invoicing, contracts, and client workflows — same freelancer/solopreneur target market and similar end-to-end business-management positioning.

Broad incumbents

• QuickBooks Self-Employed: Intuit's freelancer-focused tier of QuickBooks offering invoicing, expense tracking, and tax prep. Broader portfolio incumbent that overlaps Morning's freelancer invoicing use case but sits within a much larger SMB/accounting suite.
• Xero: Cloud accounting platform serving SMBs and accountants with invoicing, bills, and bank reconciliation — overlaps Morning's invoicing/business-management value prop and competes for the same end customers as Morning expands via TeamSystem into Europe.
• Zoho Invoice: Part of Zoho's broader business software suite, offering invoicing and billing for freelancers and SMBs — overlaps Morning's invoicing core and competes on the same horizontal freelancer use case from a larger incumbent suite.
• Square Invoices: Block's invoicing and payments product aimed at SMBs and solo operators — overlaps Morning's invoicing-plus-business-management value prop, bundled into a much larger payments and commerce platform.

Emerging players

• Invoice Ninja: Open-source/freemium invoicing and billing platform for freelancers and SMBs — comparable persona and product surface to Morning, with a more developer-leaning and price-sensitive audience.

Regional players

• Fatture in Cloud: Italian cloud invoicing and accounting platform dominant in the Italian SMB market — directly comparable to Morning's product but focused on Italy; relevant because TeamSystem's expansion plans put Morning into direct competition with Fatture in Cloud in its home market.

Market position

Customer concentration

• Facebookfacebook.com/green.invoice

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about morning by Green Invoice