Toronto based financial management software provider Wave has raised $24m in Series D funding led by NAB Ventures. Wave makes running a small business better by providing free accounting, invoicing, affordable credit card processing (payments) and payroll. Over 2 million small business owners, in more than 200 countries around the world, rely on WaveApps to run their business.
Melissa Widner, NAB Ventures’ general partner, said that the bank is interested in any emerging technologies that offer a connected experience to customers. NAB has more than 450,000 small and medium business customers, making it one of the largest banks in Australia. Wave co-founder and chief executive Kirk Simpson said that nobody understands small business in Australia better than NAB. He added that they are looking forward to explore how to serve businesses better alongside the bank. “We also believe that innovative partnerships between technology companies and world-class banks will lead to transformative solutions in the market,” Simpson added as per Money Management. The firm also offers financial services such as credit card processing and lending.