About Wagepoint
Wagepoint is a company based in Kitchener (Canada) founded in 2012 was acquired by PSG in September 2020.. Wagepoint has raised $4 million across 2 funding rounds from investors including Timia Capital, BDC and Extreme Venture Partners. The company has 30 employees as of April 07, 2024. Wagepoint has completed 2 acquisitions, including Kin HR and Timesheet Mobile. Wagepoint offers products and services including Payroll Software and People Tool. Wagepoint operates in a competitive market with competitors including Gusto, Justworks, Earnin, Paylocity and Payflow, among others.
- Headquarter Kitchener, Canada
- Employees 30 as on 07 Apr, 2024
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
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- Legal Name Wagepoint India Private Limited
- Date of Incorporation 29 Mar, 2019
- Jurisdiction Borivali West, Maharashtra, India
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Annual Revenue
$1.06 M (USD)161.06as on Mar 31, 2023
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Net Profit
$140.15 K (USD)183.33as on Mar 31, 2023
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EBITDA
$149.03 K (USD)149.83as on Mar 31, 2023
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Total Equity Funding
$4 M (USD)
in 2 rounds
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Latest Funding Round
$2 M (USD), Seed
Dec 15, 2017
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Investors
Timia Capital
& 4 more
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Employee Count
30
as on Apr 07, 2024
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Investments & Acquisitions
Kin HR
& 1 more
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Acquired by
PSG
(Sep 09, 2020)
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Products & Services of Wagepoint
Wagepoint offers a comprehensive portfolio of products and services, including Payroll Software and People Tool. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Software for processing payments and taxes for employees and contractors
Tool for handling time off, onboarding, and employee resources
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Funding Insights of Wagepoint
Wagepoint has successfully raised a total of $4M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $2 million completed in December 2017. 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 Total Funding
- Total Rounds 2
- Last Round Seed — $2.0M
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First Round
First Round
(09 Dec 2014)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2017 | Amount | Seed - Wagepoint | Valuation | Timia Capital |
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| Dec, 2014 | Amount | Seed - Wagepoint | Valuation | Extreme Venture Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Wagepoint
Wagepoint has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include Timia Capital, BDC and Extreme Venture Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Seed & early stage tech-focused VC firm investing in geographies such as the US and Canada
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Founded Year | Domain | Location | |
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Capital and operational support are provided to growth-stage software companies.
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Founded Year | Domain | Location | |
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A P2P platform for revenue-based financing is operated for startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Wagepoint
Wagepoint has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Kin HR and Timesheet Mobile. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cloud-based HR software for onboarding and employee management is provided.
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2012 | ||||
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Mobile workforce management and timesheet tracking are facilitated.
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2004 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Wagepoint
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Wagepoint Comparisons
Competitors of Wagepoint
Wagepoint operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Gusto, Justworks, Earnin, Paylocity and Payflow, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based HR and payroll solutions are offered for small businesses.
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| domain | founded_year | HQ Location |
Benefits administration and payroll management are provided for businesses.
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| domain | founded_year | HQ Location |
Real-time access to earned wages is provided fee-free.
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| domain | founded_year | HQ Location |
Cloud-based payroll and HR solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Payflow is recognized as a financial wellness application for employees.
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| domain | founded_year | HQ Location |
Cloud-based HR and payroll management solutions are offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Wagepoint
Frequently Asked Questions about Wagepoint
When was Wagepoint founded?
Wagepoint was founded in 2012 and raised its 1st funding round 2 years after it was founded.
Where is Wagepoint located?
Wagepoint is headquartered in Kitchener, Canada. It is registered at Kitchener, Ontario, Canada.
Is Wagepoint a funded company?
Wagepoint is a funded company, having raised a total of $4M across 2 funding rounds to date. The company's 1st funding round was a Seed of $2M, raised on Dec 09, 2014.
How many employees does Wagepoint have?
As of Apr 07, 2024, the latest employee count at Wagepoint is 30.
What is the annual revenue of Wagepoint?
Annual revenue of Wagepoint is $1.06M as on Mar 31, 2023.
What does Wagepoint do?
Wagepoint was founded in 2012 in Kitchener, Canada, within the financial technology sector. Payroll deductions are calculated, direct deposits are processed, and employee time and attendance are tracked through its cloud platform. Pay stubs are generated, retirement plans are managed, and government remittances are handled for companies. Consistent revenue streams are supported for accounting and bookkeeping firms operating in North America.
Who are the top competitors of Wagepoint?
What products or services does Wagepoint offer?
Wagepoint offers Payroll Software and People Tool.
How many acquisitions has Wagepoint made?
Wagepoint has made 2 acquisitions, including Kin HR, and Timesheet Mobile.
Who are Wagepoint's investors?
Wagepoint has 5 investors. Key investors include Timia Capital, BDC, Extreme Venture Partners, Atlantic Packaging, and PSG Equity.