RBC Invests in Financial Management Software Wave

Financial services and software provider for small businesses, Wave, announced it has raised $23.8 million bringing its total funding to date to $79.52 million . The Toronto-based startup was established in 2010 by Kirk Simpson and James Lochrie to ease accounting activities and has since expanded to additional services such as: invoicing, payments, loans, payroll and receipt management functions – all in the name of optimizing cash flow processes. Thing to note. Wave is global.

Bottom Line: Canadian bank RBC is a backer. Recall: the insurance arm of RBC recently teamed up with digital health and wellness startup League to sell life and health insurance products.