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Wave Financial
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Wave Financial
Wave is a Canadian company that provides financial services and software for small businesses. Wave is headquartered in the East Bayfront neighbourhood in Toronto, Canada.
The company's first product was free online accounting software designed for businesses with 1–9 employees, followed by invoicing, personal finance and receipt-scanning software (OCR). In 2012, Wave began branching into financial services, initially with Payments by Wave (credit card processing) and Payroll by Wave, followed in February 2017 by Lending by Wave, which has since been discontinued.
CEO Kirk Simpson and CPO James Lochrie launched Wave Accounting Inc. in July 2009, Wave Accounting launched to the public on November 16, 2010. In June 2011, Series A funding led by OMERS Ventures was closed. In September 2011, FedDev Ontario invested one million dollars in funding. In October 2011, a $5-million investment led by U.S. venture capital firm Charles River Ventures was announced. In May 2012, Wave Accounting closed its series B financing round led by The Social+Capital Partnership, with follow-on participation from Charles River Ventures and OMERS Ventures.
Wave acquired a company called Small Payroll in November 2011, which was later launched as a payroll product called Wave Payroll. In February 2012, Wave officially launched Wave Payroll to the public in Canada, followed by the American release in November of the same year.
In August, 2012, the company announced the acquisition of Vuru.co, an online stock-tracking service. Terms of the deal were not disclosed.
In December 2012, the company rebranded itself as Wave to emphasize its broadened spectrum of services.
On March 14, 2019, the company acquired Every, a Toronto-based fintech company that provides business accounts and debit cards to small businesses.
On June 11, 2019, the company announced it was being acquired by tax preparation company, H&R Block, for $537 million.
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Wave Financial
Wave is a Canadian company that provides financial services and software for small businesses. Wave is headquartered in the East Bayfront neighbourhood in Toronto, Canada.
The company's first product was free online accounting software designed for businesses with 1–9 employees, followed by invoicing, personal finance and receipt-scanning software (OCR). In 2012, Wave began branching into financial services, initially with Payments by Wave (credit card processing) and Payroll by Wave, followed in February 2017 by Lending by Wave, which has since been discontinued.
CEO Kirk Simpson and CPO James Lochrie launched Wave Accounting Inc. in July 2009, Wave Accounting launched to the public on November 16, 2010. In June 2011, Series A funding led by OMERS Ventures was closed. In September 2011, FedDev Ontario invested one million dollars in funding. In October 2011, a $5-million investment led by U.S. venture capital firm Charles River Ventures was announced. In May 2012, Wave Accounting closed its series B financing round led by The Social+Capital Partnership, with follow-on participation from Charles River Ventures and OMERS Ventures.
Wave acquired a company called Small Payroll in November 2011, which was later launched as a payroll product called Wave Payroll. In February 2012, Wave officially launched Wave Payroll to the public in Canada, followed by the American release in November of the same year.
In August, 2012, the company announced the acquisition of Vuru.co, an online stock-tracking service. Terms of the deal were not disclosed.
In December 2012, the company rebranded itself as Wave to emphasize its broadened spectrum of services.
On March 14, 2019, the company acquired Every, a Toronto-based fintech company that provides business accounts and debit cards to small businesses.
On June 11, 2019, the company announced it was being acquired by tax preparation company, H&R Block, for $537 million.
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