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WAVE RAISES $10M FUNDING Featured

wave logoWave Accounting has raised $10 million in venture financing, bringing the Toronto, Ontario-based company to a total of $35 million in funding. The company said this month the money came from CRV, The Social+Capital Partnership, OMERS Ventures, and "a strategic investor in the global fintech software space". The online accounting software company offers its accounting products for free, making money off advertising (or sponsorships, same thing.)

It does charge $19 per month for payroll and the same among for premium phone and chat support along with 2.9 percent plus 30 cents per paid invoice. Interesting that the company would report its support times with a fixed EST designation. Well, there's a lot of smart people that don't seem to know the difference between ST and DT times. Wave describes itself this way: "Wave is the fastest-growing small business financial solution on the market today, driving 10,000+ organic small business signups every week." That would be more than 520,000 businesses a year and Intuit says this week its QuickBooks Online had 965,000 subscribers on April 30 and makes Wave's claim very interesting. More specifically, in a prepared statement, Devdutt Yellurkar, a CRV partner said, "Over the past three years, Wave has attracted over 1,000,000 small businesses to its seamlessly integrated accounting, invoicing and payroll system."

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