About Wave Money
Wave Money is a Financial Services company based in Yangon (Myanmar) founded in 2015 by Brad Jones, and was acquired by Yoma Strategic Holdings in January 2021. Open wallet system. Wave Money has raised $73.5 million across 3 funding rounds from investors including Ant Group, Yoma Strategic Holdings and First Myanmar Investment. Its chief executive, as recorded, is Brad Jones. Its website wavemoney.com.mm draws about 12 thousand monthly visits. Its focus areas include FinTech, Payments, Consumer Payments and Wallets. Its competitors include AYAPay, TRUSTY E-Commerce and OK Dollar.
Company details
Wave Money was established in 2015 as a joint venture between Telenor Group and Yoma Bank, operating in the fintech sector from Yangon, Myanmar. Digital wallet services are provided through a mobile app, enabling users to send and receive funds via Wave Shop agents or direct account transfers. Additional features include talktime purchases, supporting cash-in and cash-out operations across the agent network.
- Headquarters Yangon, Myanmar
- Founders Brad Jones
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website wavemoney.com.mm
- Social LinkedIn X Facebook YouTube
- Acquired by Yoma Strategic Holdings (Jan 2021)
- Total Equity Funding$73.5M (USD)
in 3 rounds
- Latest Funding Round$73.5M (USD), Series B
Jun 2020
- InvestorsAnt Group
& 2 more
- Acquired byYoma Strategic Holdings
(Jan 2021)
Apps and channels of Wave Money
Wave Money publishes 3 mobile apps with over 20M+ downloads; its YouTube channel Wave Money has 39K subscribers and 30 videos.
Videos from Wave Money
The most watched videos on Wave Money's YouTube channel, Wave Money (39K subscribers). Click a video to play it here.
More on Wave Money.
Funding Insights of Wave Money
Wave Money has successfully raised a total of $73.5M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $73.5 million completed in June 2020. 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 $73.5M
- Total Rounds 3
- Last Round Series B — $73.5M
- Investors Count 3
All 3 funding rounds of Wave Money 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 |
|---|---|---|---|---|---|
| Jun 2020 | $73.5M | Series B | – | Ant Group | – |
| Mar 2018 | Series A | – | Yoma Strategic Holdings | – | |
| Jun 2016 | Series A | – | FMI | – |
3 investors in total: 3 institutional.
Investors in Wave Money
Wave Money has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include Ant Group, Yoma Strategic Holdings and First Myanmar Investment.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
A diversified conglomerate in Myanmar focused on multiple sectors. | fmi.com.mm | Yangon, Myanmar | ||
Payment processing solution for consumers, small and micro businesses | 2004 | antgroup.com | Hangzhou, China | |
Investment holding company based out of Myanmar | 2006 | yomastrategic.com | Singapore, Singapore |
Investor details for Wave Money
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Wave Money
27 people are tracked at Wave Money (12 in leadership, 15 in team).
| Name | Role | Group |
|---|---|---|
Brad Jones | Co-Founder & CEO | Leadership |
Khaing Zar Ni Aye | Head Of Business Performance & Planning | Leadership |
Win Myitzu Han | Chief Financial Officer | Leadership |
Cho Zin Maw | Head Of Marketing | Leadership |
Nyein Chan Wynn | Head Of Technology Operations | Leadership |
Htin Hlaing | Chief Technology Officer | Leadership |
May Oo Khaing | Chief Risk And Compliance Officer | Leadership |
Thanthar Shwe | Chief People Officer & Company Secretary | Leadership |
Chitsu Wai | Head Of Sourcing And Legal | Leadership |
Nyan san Kim | Head Of Process Optimization | Leadership |
Alex Aung | Director Of Technical Operations & Architecture | Leadership |
Nan Su | Head Of Product Management | Leadership |
Ruksanee Masvirun | HR & Operations Manager | Team |
Supamas Techarungrojwong | Senior SRE | Team |
Thwet Thwet Mar | Senior Platform Developer (java) | Assistant Manager | Team |
Safiullah Mohammad | Executive Manager Data Engineering | Team |
Wai Nwe | Senior Manager, Accounting And Reporting | Team |
Hay Mar Khaing | Site Reliability Engineer | Team |
Soe Arkar Kyaw | Platform Developer | Team |
Min Soe Paing | Senior Manager, Performance Marketing | Team |
7 more people are available in the full profile.
Complete people profiles for Wave Money
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Wave Money
4 dated milestones of Wave Money across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Wave Money is founded.
- Funding First funding round.
- Funding Latest funding round, Series B, of $73.5M.
- Exit Acquired by Yoma Strategic Holdings.
Competitors of Wave Money
Wave Money has 3 listed competitors in our database. They include AYAPay, TRUSTY E-Commerce and OK Dollar.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ayapay.com | 2018 | Yangon, Myanmar | Digital wallet app for mobile payments, transfers, and bill services via app. | |||
| trustyecommerce.com | 2016 | Yangon, Myanmar | Mobile app for easy payments, discounts, and e-commerce at merchant shops. | |||
| okdollar.com | 2016 | Yangon, Myanmar | Mobile app for fast money transfers, payments, recharges, and online shopping. |
Detailed competitors of Wave Money
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Wave Money
The website of Wave Money (wavemoney.com.mm) receives about 12.3K visits a month.
- Monthly visits12.3K
▼ 30.4% vs previous month
Websites whose visitors overlap most with Wave Money. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| wave.com | 100% | 500.7K | #31,960 | View details |
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Related news about Wave Money
Complete news archive for Wave Money
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
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Frequently Asked Questions about Wave Money
Wave Money was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Wave Money is headquartered in Yangon, Myanmar. It is registered at Yangon, Yangon Region, Myanmar.
Brad Jones is the CEO of Wave Money, as recorded in our data. They have also founded this company.
Wave Money is a funded company, having raised a total of $73.5M across 3 funding rounds to date.
Wave Money was established in 2015 as a joint venture between Telenor Group and Yoma Bank, operating in the fintech sector from Yangon, Myanmar. Digital wallet services are provided through a mobile app, enabling users to send and receive funds via Wave Shop agents or direct account transfers. Additional features include talktime purchases, supporting cash-in and cash-out operations across the agent network.
Wave Money's top competitors include AYAPay, TRUSTY E-Commerce and OK Dollar.
Wave Money has 3 investors. Key investors include Ant Group, Yoma Strategic Holdings, and First Myanmar Investment.
Yes. Wave Money was acquired by Yoma Strategic Holdings in January 2021.
Yes. Wave Money publishes WavePay APP by Wave Money and 2 more apps, with over 20 million downloads.