NAB's venture capital fund, NAB Ventures, has led a US$24 million (A$32 million) series D funding round in Toronto-based cloud fintech company, Wave.
Wave delivers cloud-based financial management software including accounting, invoicing, and payroll with seamlessly integrated financial services such as credit card processing and lending.
Targeting entrepreneurs with fewer than 10 employees, Wave has over two and a half million small business customers in more than 200 countries around the world, including 35,000 active users in Australia.
The series D funding round also includes funding from Royal Bank of Canada, Silicon Valley venture firms CRV and Social Capital, global funds OurCrowd and Harbourvest, as well as Canadian investors OMERS Ventures, BDC IT Venture Fund, BDC Capital and Portag
Not sure if this will affect IAM or not. Hopefully just a separate plan and they are still courting NAB
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