About Wave
Wave is a company based in Toronto (Canada) founded in 2010 was acquired by H&R Block in June 2019. It operates as a SaaS (Software-as-a-Service), and Freemium. Wave has raised $82.4 million across 13 funding rounds from investors including H&R Block, National Australia Bank and OurCrowd. Wave has completed 2 acquisitions, including Every and Vuru. Wave offers products and services including Invoicing, Payments, Accounting, and Payroll. Wave operates in a competitive market with competitors including Intuit, Visma, Clear, Xero and FreshBooks, among others.
- Headquarter Toronto, Canada
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Wave Financial Inc.
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Products & Services of Wave
Wave offers a comprehensive portfolio of products and services, including Invoicing, Payments, Accounting, and Payroll. 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.
Professional invoices are created quickly for small businesses.
Secure online payments are facilitated for faster transactions.
Income and expenses are tracked for organized bookkeeping.
Employee payments are managed reliably with legal compliance.
Funding Insights of Wave
Wave has successfully raised a total of $82.4M across 13 strategic funding rounds. 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 13
- Last Round Last Round
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First Round
First Round
(01 Jul 2010)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2019 | Amount | Series D - Wave | Valuation | Fineqia |
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| May, 2017 | Amount | Series D - Wave | Valuation | National Australia Bank , Exhibition Capital | |
| Oct, 2016 | Amount | Series D - Wave | Valuation | BDC |
| 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 Wave
Wave has secured backing from 14 investors, including venture fund and institutional investors. Prominent investors backing the company include H&R Block, National Australia Bank and OurCrowd. 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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Venture capital fund and fund of funds focused on early and growth stage blockchain companies
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Founded Year | Domain | Location | |
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CRV is recognized as a venture capital firm investing in technology startups.
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Founded Year | Domain | Location | |
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US focused VC firm investing in seed & growth stage companies
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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 Wave
Wave has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Every and Vuru. 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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Digital banking services for businesses are provided via mobile platforms.
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2017 | ||||
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Automated stock analysis is provided through financial reports and screeners.
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2010 |
| 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 - Wave
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 |
Wave Comparisons
Competitors of Wave
Wave 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 Intuit, Visma, Clear, Xero and FreshBooks, 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 |
Financial and accounting software is developed for businesses and individuals.
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| domain | founded_year | HQ Location |
Cloud-based ERP software is provided for business management across segments.
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| domain | founded_year | HQ Location |
Technology-enabled accounting and finance solutions are offered for SMBs.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payment management is offered for small businesses.
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| domain | founded_year | HQ Location |
Cloud-based invoicing and accounting software is offered for businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Wave
Frequently Asked Questions about Wave
When was Wave founded?
Wave was founded in 2010.
Where is Wave located?
Wave is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Is Wave a funded company?
Wave is a funded company, having raised a total of $82.4M across 13 funding rounds to date. The company's 1st funding round was a Series D of $14.6M, raised on Jul 01, 2010.
What does Wave do?
Financial management solutions are offered by Wave for small businesses and solopreneurs. Tools for invoicing, payments, accounting, and payroll are provided to streamline operations. Affordable and user-friendly services are designed to support bookkeeping and tax preparation. The focus is placed on simplifying money management for non-accountants across various sectors.
What products or services does Wave offer?
Wave offers Invoicing, Payments, Accounting, and Payroll.
Who are Wave's investors?
Wave has 14 investors. Key investors include H&R Block, National Australia Bank, OurCrowd, HarbourVest Partners, and Social Capital.
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