Wave Financialrevenue, acquisition & funding

Financial Services SoftwareToronto, Ontario, CanadaFounded 2009

Wave Financial was acquired by H&R Block in 2019.

Wave Financial, founded in 2009 and headquartered in Toronto, provides free invoicing and accounting software to small businesses with zero to 10 employees and under $2 million in annual revenue.

waveapps.com LinkedInUpdated Oct 14, 2026

Annual revenue: $122.7M; Jun 2026 · SEC filing+12% YoY
Acquired for: $408.4M; by H&R Block · Jun 2019
Total raised: $79.4M; 8 rounds
Employees: 200; 2018

Wave Financial revenue

Wave Financial's annual revenue was $122.7M in June 2026 (SEC filing), the most recent figure on record. That is up 12% from $109.2M a year earlier.

$50M

$100M

$63.1M

$81M

$90.3M

$96.5M

$109.2M

$122.7M

202120222023202420252026

ReportedOne figure per year; a reported figure wins over an estimate

All 6 revenue readings, with sources

As of	Revenue	Source
Jun 2021	$63.1M	SEC filing
Jun 2022	$81M	SEC filing
Jun 2023	$90.3M	SEC filing
Jun 2024	$96.5M	SEC filing
Jun 2025	$109.2M	SEC filing
Jun 2026	$122.7M	SEC filing

Who owns Wave Financial

H&R Block owns Wave Financial. It bought the company in June 2019 for $408.4M (SEC filing).

Wave Financial funding rounds & investors

Wave Financial has raised $79.4M across eight rounds since 2011. The latest was a $24M Series D in May 2017.

Date	Round	Raised
May 2017	Series D	$24M
Oct 2016	Venture	$11.8M
Mar 2016	Series C	$5.4M
Dec 2015	Venture	$5.2M
May 2015	Series C	$10M
Oct 2013	Venture	$6M
May 2012	Series B	$12M
Oct 2011	Series A	$5M
	Total raised	$79.4M

Interviews with Kirk Simpson

Nathan Latka has interviewed Wave Financial once, speaking with Kirk Simpson. Each figure links to the second it was said.

Watch

July 2018 · Kirk Simpson, Co-Founder and CEO

How Wave Financial Reached Nearly 80,000 New Small Business Sign-Ups a Month with Below 2% Monthly Gross Logo Churn (Interview with Co-Founder and CEO Kirk Simpson)

Free usershundreds of thousandsWatch at 8:35
Revenue per userBetween $70 and $100 a month (paying customers, including transaction processing)Watch at 2:32
Gross churnBelow 2% a month (gross logo churn)Watch at 6:21
EmployeesClosing in on 200Watch at 7:17
Sales reps0Watch at 7:17

Read the interview Watch

Growth tactics they described: Organic SEOWatch at 9:57

Wave Financial CEO, founders & employees

Kirk Simpson founded Wave Financial in 2009 and led it as CEO. Wave Financial had 200 employees (2018).

Kirk SimpsonChief Executive Officer, Co-Founder
1 interview
Ideshini NaidooChief Technology Officer
Paul MarshallChief Operating Officer
Les WhitingChief Financial Officer
Ashira GobrinChief People Officer
Joshua SiegalVP Organizational Effectiveness

InvestorsAnderson Tan

Also at Wave FinancialZahir Khoja, Camila Louzada, Tyrone Thompson, Sammy Halabi, Asma Erum, Dorsa Giyahi, Lawrence Biol, Michael Warkentin, Daniel White, Alicia Martin, Swapneel Mehta, Sameena Velshi, Judith Leitner

100

150

200

2018

ReportedOne figure per year; a reported figure wins over an estimate

Wave Financial FAQ

What was Wave Financial's revenue?

Wave Financial's annual revenue was $122.7M in June 2026, according to an SEC filing.

Who owns Wave Financial?

H&R Block owns Wave Financial. It bought the company for $408.4M in June 2019, according to an SEC filing.

How much funding has Wave Financial raised?

Wave Financial raised $79.4M across eight funding rounds before H&R Block bought it. The last was a $24M Series D in May 2017.

How many employees does Wave Financial have?

Wave Financial had 200 employees in 2018, as Kirk Simpson said on camera.

Who founded Wave Financial?

Kirk Simpson founded Wave Financial in 2009.

How this page is sourced

6 said on camera · 6 from public sources. Founder figures link to the second they were said; public figures name their source; estimates are marked EST. and say whose they are. Not financial advice.

Updated Oct 14, 2026Data disclaimer Report a correction Claim this profile