How Waveapps hit $25.2M revenue and 10K customers in 2023.
Wave Financial Inc. is a financial services software company based in Toronto, Canada. It was founded in 2009 by Kirk Simpson and James Lochrie with the goal of simplifying financial management for small business owners. Their flagship product, Wave, is a cloud-based accounting and invoicing software that allows small business owners to track their finances, generate invoices, and manage payments. In addition to their core accounting software, Wave also offers a suite of financial services, including payments, payroll, and receipt scanning, to help small business owners manage their finances more efficiently.
In 2023, Waveapps revenue run rate hit $25.2M in revenue.
Waveapps hit $25.2M in revenue in 2018
Waveapps launched in 2009 with $0 revenue
Waveapps Funding History
2017 Series D
Waveapps raised a Series D of $24M
2016 Venture Round
Waveapps raised a Venture Round of $11.8M
2016 Series C
Waveapps raised a Series C of $5.4M
2015 Venture Round
Waveapps raised a Venture Round of $5.2M
2015 Series C
Waveapps raised a Series C of $10M
2013 Venture Round
Waveapps raised a Venture Round of $6M
2012 Series B
Waveapps raised a Series B of $12M
2011 Series A
Waveapps raised a Series A of $5M
Waveapps has 305 total employees and 1 sales reps that carry a quota. They have 10000 customers an engineering team of 75 and a marketing team of 14
Total team size
His career as an entrepreneur started after he left university in his senior year and moved on to build two successful tech businesses. It was then that he understood first-hand the pain of managing finances, and knew there had to be a better way to support small business owners.
Kirk has since led Wave from an 8 person startup to a growing team of over 275 employees in downtown Toronto. Wave provides entrepreneurs from around the world with award-winning financial software to help them manage their finances. Wave has raised over $100M in funding since its inception and, in 2019, was acquired by H&R Block for $537M CAD in Canada’s 11th largest tech exit.
In 2019, Kirk was named Canada’s Most Admired CEO in the growth sector, and Wave was awarded Canada’s Most Admired Corporate Culture by Waterstone HC. Under his leadership, Wave has won many awards for leadership, culture, and innovation, including the Deloitte Fast 50 and Growth 500, the KPMG Fintech 100, and The Globe and Mail's Employee Recommended Workplaces. Wave ranked 6th on Great Place to Work Canada, with special categories for Women, Millennials, Technology, Inclusion and Wellness.
In addition, Kirk has served as an advisor to the Next 36, Creative Destruction Lab and provides mentorship to young entrepreneurs and startup visionaries. He is also an angel investor in exciting new ventures by promising entrepreneurs.
Kirk is a proud Canadian, husband, father of three and lives in Toronto. In his spare time, he enjoys being with friends, supporting his local community, and loves adventure travel where he gets to ski, surf, and play the occasional round of golf.