Wave Accounting goes dutch and raises $1.5 Million seed round let by OMERS

Toronto's Wave Accounting announced today that it has closed a $1.5 Million seed round led by OMERS through INKEF Capital. INKEF Capital is a venture capital investment alliance of pension funds OMERS and ABP in the Netherlands.

"We're taking a long-term investment approach. We plan to work closely with great startups like Wave, and ensure that they have the mentoring and the investment resources to reach their maximum potential. Wave has already shown the kind of innovation and growth we're looking for, and we're excited to have Wave among our first investments," says Peter Carrescia, Managing Director at INKEF Capital.

Launched in November 2010, Wave Accounting is a free, online accounting application designed specially for small businesses with 9 employees or less. According to their press release today, Wave has signed up 20,000 small businesses in 162 countries in under seven months.

Company:: Wave Accounting Inc.
Website:: http://www.waveaccounting.com
Location:: Toronto, Ontario, Canada

Wave Accounting is aimed at small business owners who hate doing accounting. It’s been designed to be easy and to give business owners a view of their business that they can’t easily achieve through other accounting applications. Because it is web-based it offers benefits over traditional desktop applications. 1. Access your data anywhere. 2. Invite collaborators (such as business partners, bookkeepers or your... more

Company:: OMERS Ventures
Website:: http://www.omersventures.com
Location:: Toronto, Ontario, Canada

We're OMERS Ventures and we are as passionate about your success as you are about your company. We are looking for like-minded partners who have a shared vision of building a vibrant and successful Canadian knowledge economy. OMERS Ventures is the venture capital arm of OMERS, one of Canada's largest pension funds with over $53 billion in net assets. more

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Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com. His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more

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