NAB Ventures leads US $24M round in Wave Accounting

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By Ted Liu

Wave Accounting Inc. has raised US $24 million in a new investment round led by NAB Ventures, National Australia Bank’s venture capital arm, with participation of new investors, Royal Bank of Canada (RBC), Power Financial’s Portag3, Exhibition Capital, and existing investors, CRV, Social Capital, BDC IT Venture Fund, OMERS Ventures, Harbourvest, and OurCrowd.

Wave Accounting is in discussion with NAB and RBC to integrate financial services into its software.

The new financing follows Wave’s US $11 million Series D round closed in September 2016. BDC Capital IT Venture Fund led the round with participation of HarbourVest, CRV and Social Capital.

photo credit: Wave Accounting