Funding round
Wave Seed
Wave, which works in digital financial services in United States, raised $2.5M in a Seed round announced on 5 Aug 2016. 11 firms took part. It is Wave's first venture round on record.
$2.5M
Amount raised
Not disclosed
Post-money valuation
11
Investors
no lead named
Valuation
What this round says about the price
Wave did not disclose a valuation in this round. It is 1.2% of the $203M Wave has raised in the venture rounds on record. Wave raised again 60 months later: a Series A round of $200M in Aug 2021, at $1.70B post-money.
Wave's funding rounds
Wave has 2 venture rounds on record and 2 other deals. This one is highlighted.
- Seed this round 5 Aug 2016 $2.5M
- Series A 1 Aug 2021, led by Sequoia Heritage, Founders Fund and Stripes $200M$1.70B post-money
- Debt not a venture round 12 Jul 2022 $92M
- Debt not a venture round 30 Jun 2025, led by Rand Merchant Bank $137M
Investors
Who put money in
11 firms took part; no lead investor was named.
Investors
- KPCB Edge new investor
- backs 12 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- backs 68 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- backs 112 venture-backed companies new investor
- Luma Launch new investor
- backs 77 venture-backed companies new investor
- Immersion VC new investor
- GREE new investor
- Outpost new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
15 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $2.0M, and this round was 1.3 times the median. The closest in time, other companies' Seed rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 8 Aug 2016 | $1.0M | not disclosed | James R. Heistand |
| Flutterwave Payment Processing & Point of Sale | 15 Aug 2016 | $230K | not disclosed | not named |
| Payment Processing & Point of Sale | 19 Sep 2016 | $2.6M | not disclosed | not named |
| Payment Processing & Point of Sale | 21 Jun 2016 | $7.9M | not disclosed | not named |
| Payment Processing & Point of Sale | 1 Oct 2016 | $2.3M | not disclosed | not named |
| Payment Processing & Point of Sale | 25 Dec 2016 | $3.7M | not disclosed | Speedinvest |
| Payment Processing & Point of Sale | 19 Dec 2016 | $1.3M | not disclosed | not named |
| Qonto Payment Processing & Point of Sale | 20 Jan 2017 | $1.7M | not disclosed | Alven |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Wave raise in its Seed round?
Wave raised $2.5M in its Seed round, announced in Aug 2016.
Which investors took part in Wave's Seed round?
KPCB Edge, Presence Capital, Rothenberg Ventures, RRE, Venture Reality Fund and Seedcamp and 5 more.
What was Wave's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Payment Processing & Point of Sale?
15 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $2.0M, and this round was 1.3 times the median.
Did Wave raise again after this round?
Yes: a Series A round in Aug 2021 of $200M at $1.70B post-money.