Wave acquires Canadian SME account provider Every
Software firm Wave has acquired Every, a Toronto-based fintech that provides business accounts and debit cards to SMEs.
Financial details were not disclosed. Wave says it plans to integrate more financial products and services directly into its offering.
Not a lot information was shared, such as what will happen to the staff at Every.
However, Wave says: “The team at Every impressed us with their vision to simplify small business banking. We both envision a world where entrepreneurs can focus on what they love and their finances just take care of themselves.”
Every is currently available in limited beta in the US.
According to Wave’s website, it has $200+ billion in income and expenses, and $77 million in investments.
In addition, it says $20+ billion in invoices are sent annually and it has 3.5+ million customers.
Wave was founded in 2009 by Kirk Simpson and James Lochrie. It officially launched in 2010 and has 200+ staff.
Back in 2017, Wave signed a deal to integrate its invoicing, accounting, and business financial insights technology into Royal Bank of Canada’s online banking platform.