About Waave
Waave is a Financial Services company based in Sydney (Australia) founded in 2022 by Mark Connolly, Ben Zyl, and Peter Traianou, and was acquired by Banked in October 2024. Merchant payments are facilitated via open banking technology. It operates on a FinTech model. Waave has raised $4.7 million across 1 funding round from investors including Banked. Its chief executive, as recorded, is Ben Zyl. Waave offers products and services including Pay by B. Its focus areas include Payment Processing and Digital Payments. Its legal entity is Waave Technologies Pty Ltd. Its competitors include Frollo, Basiq and FinchXP; 1 of its 3 listed competitors has raised funding.
Company details
Waave Technologies Pty Ltd is engaged in offering real-time payment solutions through the Pay by B service, utilizing Australias PayTo network. The service is designed to facilitate instant payments for customers at checkout, both online and in-store, by connecting with their banking apps via PayID. Security and privacy are prioritized with trusted banking authentication, data encryption, and biometric measures. The solution integrates with all Australian banks, browsers, and phone operating systems, aiming to streamline the payment process while reducing transaction fees for businesses.
Products & Services of Waave
Waave offers a comprehensive portfolio of products and services, including Pay by B.
Real-time payments are enabled through Australia's PayTo network.
Funding Insights of Waave
Waave has successfully raised a total of $4.7M through 1 strategic funding round. The most recent funding activity was a Seed round of $4.7 million completed in April 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $4.7M
- Total Rounds 1
- Last Round Seed — $4.7M
- First Round $4.7M
(Apr 2023)
All 1 funding rounds of Waave with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2023 | $4.7M | Seed | – | – | – |
1 investors in total: 1 institutional.
Investors in Waave
Waave has secured backing from 1 investor. Prominent investors backing the company include Banked.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Open banking APIs for payments and data access are provided. | 2018 | banked.com | London, United Kingdom |
Investor details for Waave
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Waave
3 people are tracked at Waave (3 in leadership).
| Name | Role | Group |
|---|---|---|
Mark Connolly | Co-Founder | Leadership |
Ben Zyl | Co-Founder & CEO | Leadership |
Peter Traianou | Co-Founder | Leadership |
Complete people profiles for Waave
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Waave
3 dated milestones of Waave across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Waave is founded.
- Funding First funding round of $4.7M.
- Exit Acquired by Banked.
Competitors of Waave
Waave has 3 listed competitors in our database, 1 of them funded. They include Frollo, Basiq and FinchXP.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| frollo.com.au | 2015 | Sydney, Australia | Cloud-based open banking API solutions are provided to banks. | |||
| basiq.io | 2016 | Sydney, Australia | Financial data is aggregated through APIs for open banking services. | |||
| finchxp.com | 2016 | Melbourne, Australia | $2.5M | Open banking API solutions for financial services are provided. |
Detailed competitors of Waave
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Related news about Waave
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Frequently Asked Questions about Waave
Waave was founded in 2022 and raised its 1st funding round 1 year after it was founded.
Waave is headquartered in Sydney, Australia. It is registered at Sydney, New South Wales, Australia.
Ben Zyl is the CEO of Waave, as recorded in our data. They have also founded this company.
Waave is a funded company, having raised a total of $4.7M across 1 funding round to date. The company's 1st funding round was a Seed of $4.7M, raised on Apr 2023.
Waave Technologies Pty Ltd is engaged in offering real-time payment solutions through the Pay by B service, utilizing Australias PayTo network. The service is designed to facilitate instant payments for customers at checkout, both online and in-store, by connecting with their banking apps via PayID. Security and privacy are prioritized with trusted banking authentication, data encryption, and biometric measures. The solution integrates with all Australian banks, browsers, and phone operating systems, aiming to streamline the payment process while reducing transaction fees for businesses.
Waave offers Pay by B.
Waave has 1 investor. Key investors include Banked.
Waave operates through Waave Technologies Pty Ltd.
Yes. Waave was acquired by Banked in October 2024.