The company, which offers its software for free, claims 45,000 customers since it began operations. With the growth of users, Wave has been receiving requests for referrals to accounting professionals in the users' geographical area.

Wave is targeting users than have 10 or fewer employees and less than $5 million a year. This is a market that Wave claims is not being served well and in which it believes Intuit has had difficulty reaching via QuickBooks.

Since users do not pay for accessing Wave, the company makes its money when its users purchase goods or services from organizations that list these in a section on the Wave website.