Wave is a cloud based integrated suite of small business tools inclusive of accounting, payments, invoicing, and payroll. It has a customer base of approximately 2.5 million users globally and has raised series D funding of $23.8M US or $32M CAD recently from RBC, Exhibition Capital, and National Australia Bank (NAB). It plans to invest in AI and machine learning techniques to introduce accounting automation and analytics-based insights to its customer groups. Backed by other large names with NAB officially having a stake in the company, this FinTech is worth following.
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An insightful article on A.I. being a double-edged sword between technology giants like Google, Microsoft and FinTechs players like Ant Financial. One example is, A.I. will create jobs, just not the same jobs. Research shows that in A.I. specifically the jobs we create will be centered around machine learning initially, and the creative application of A.I. contextually in the world around us. This tends to lead us towards jobs like A.I. trainers, explainers and sustainers.
The double-edged sword of Artificial Intelligence
Wave a Toronto based fintech firm, received $32 million CAD in capital from investors including Royal Bank of Canada (RBC), Exhibition Capital and National Australia Bank (NAB) Wave said, they will use the money to accelerate their product development. Further they will also invest in their AI and machine learning techniques to automate basic accounting functions and give analytics-based insights to their customers about how they can grow.
Canadian fintech Wave raises $24 million from RBC and other investors
The fintech firm says it will use the new money to accelerate product development.