small business software founded canada 2009 headquarters toronto canada key people kirk simpson co founder and ceo james lochrie co founder and cpo les whiting vp payments number of employees 90 april 2016 website www.waveapps.com wave is the brand name for a suite of online small business software products . the legal company name is wave accounting inc. wave is headquartered in the leslieville neighbourhood in toronto canada . the company manages more than 50 billion in income and expense transactions for its customers including 5 billion in annual invoicing . 1 the company s first product was a free online accounting software designed for businesses with 1 9 employees . in 2010 wave accounting launched the first free double entry accounting platform in the cloud which included unlimited bank data downloads . 2 wave accounting was recently rated one of the top 5 financial planning and personal finance software apps . 3 contents 1 features and integrations 2 pricing and revenue 3 major competitors 4 history 5 references features and integrations edit the company s core product accounting by wave is a double entry accounting tool . services include direct bank data imports invoicing and expense tracking . accounting by wave integrates with expense tracking software shoeboxed and e commerce website etsy . the next product launched was payroll by wave which was launched in 2012 after the acquisition of smallpayroll.ca . 4 payroll by wave is only available in u.s.a. and canada . invoicing by wave is an offshoot of the company s earlier accounting tools . additional products launched on or shortly after the company s rebrand 5 in december 2012 include a credit card processing tool payments by wave built initially on an integration with stripe credit card processing a receipt scanning tool receipts by wave 6 wave also produces free mobile applications that integrate with the online functionality invoice by wave for iphone 7 payments by wave for iphone 8 receipts by wave for iphone receipts by wave for android 9 payroll by wave for iphone pricing and revenue edit wave s core accounting and invoicing tools are free as opposed to freemium in that the tools can be used without tiers or limits . the free webapp functionality contains advertisements geared to small businesses . wave also generates revenue from its payroll software and from its payments credit card processing partnership with stripe . wave does not currently disclose its revenue or financial statements publicly . major competitors edit the biggest accounting competitor in the usa is quickbooks which holds up to 90 % of the market of small businesses that already use an accounting application . there are several saas accounting apps in the market including freshbooks freeagent saasu outright xero kashflow zipbooks aplos software for nonprofits and sage group . in addition several payroll services compete with wave such as surepayroll and zenpayroll . history edit ceo kirk simpson and cpo james lochrie launched wave accounting inc. in july 2009 . wave accounting launched to the public on november 16 2010 . 10 in june 2011 series a funding led by omers ventures 11 and inkef capital 12 was closed . in september 2011 feddev ontario invested one million dollars in funding . 13 in october 2011 a 5 million investment led by u.s. venture capital firm charles river ventures was announced . 14 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 . 15 wave accounting acquired a company called small payroll in november 2011 16 which was later launched as a payroll product called wave payroll . in february 2012 wave accounting officially launched wave payroll to the public in canada 17 followed by the american release in november of the same year . in august 2012 the company announced the acquisition of vuru.co 18 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 . 19 references edit wave s new app makes mobile invoicing and accepting credit card payments faster and easier than ever . waveapps.com . wave accounting inc. retrieved 19 june 2014 . wave history . www.waveapps.com . wave . detailed wave accounting review . www.advisoryhq.com . advisoryhq . canada 2011 11 02 . wave accounting acquires small payroll and relaunches as wave payroll . techvibes.com . retrieved 2012 10 31 . with 500k users wave rebrands to tell the world it isn t just about free accounting anymore . techcrunch . december 17 2012 . retrieved april 23 2013 . etherington darrell . wave debuts free receipt scanning and management tool to add to its free accounting platform . retrieved 10 april 2013 . lazanis ryan . wave accounting releases new mobile app for invoicing . techvibes.com . retrieved 19 june 2014 . itunes app store . itunes app store . apple . retrieved 19 june 2014 . google play . play.google.com . google . canada 2010 11 20 . wave accounting launches free service for small businesses . techvibes.com . retrieved 2012 10 31 . home . omers ventures . retrieved 2012 10 31 . inkef capital invests in wave accounting venture capital private equity m & a ipo news . news.techfinance.ca . 2011 06 09 . retrieved 2012 10 31 . toronto startups get 1m in federal funding growth strategies resource centre entrepreneur financial post . business.financialpost.com . retrieved 2012 10 31 . toronto startup raises 5m in latest wave of funding fp tech desk financial post . business.financialpost.com . 2011 10 14 . retrieved 2012 10 31 . wednesday may 16 2012 2012 05 16 . wave accounting raises 12m from social capital partnership charles river ventures & omers ventures . techcrunch . retrieved 2012 10 31 . cs1 maint multiple names authors list link canada 2011 11 02 . wave accounting acquires small payroll and relaunches as wave payroll . techvibes.com . retrieved 2012 10 31 . canada 2012 02 01 . wave accounting launches wave payroll in canada . techvibes.com . retrieved 2012 10 31 . vuru.co is now part of the wave family wave accounting free small business accounting software . wave accounting . 2012 08 21 . retrieved 2012 10 31 . with 500k users wave rebrands to tell the world it isn t just about free accounting anymore . techcrunch . december 17 2012 . retrieved april 23 2013 . retrieved from https en.wikipedia.org w index.php title wave accounting & oldid 729316174 categories accounting softwaresoftware companies of canadafree accounting softwarehidden categories cs1 maint multiple names authors list navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent 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