Wave is one of a group of relatively new companies that market Internet-based accounting packages. The others include New Zealand-based Xero, which opened a U.S. office last fall, and FreshBooks, also based in Toronto. These two are more traditional in offering the application for sale to end users.
Estimated reading time: 0 minutes, 45 seconds
Wave Accounting Gets $12 Million
Wave Accounting has secured $12 million in funding for its efforts to develop the market for its online accounting applications. Based in Toronto, Wave said the funding round was led by The Social+Capital Partnership with participation from existing investors Charles River Ventures and OMERS Venture.
Wave provides its accounting application free to users and makes its money on sponsorships and advertising aimed at those users. The company says it has about 250,000 business es as users with about 1,000 new signups occuring daily. The company launched Wave Payroll in Canada in February and that product will be introduced in the United States this year.
Most Read
-
-
Jan 23 2024
-
Written by Bob Scott
Intuit used deceptive advertising in calling some of its TurboTax…
-
-
-
Nov 10 2023
-
Written by Bob Scott
Revenue for Thomson Reuters Tax & Accounting Professionals increased by…
-
-
-
Oct 30 2023
-
Written by Bob Scott
CPA.com has released a toolkit to help accounting and finance professionals…
-
-
-
Jan 23 2024
-
Written by Bob Scott
The Internal Revenue Service is redesigning the roughly 170 million…
-