Wave Systems

Wave Systems, a Lee, United States-based digital remittance company, has raised a total of $326 million in funding, achieving a valuation of $1.7 billion as of September 2021. The company’s latest Conventional Debt round in July 2025 raised $137 million, led by Rand Merchant Bank, British International Investment, Finnfund, and Norfund. Earlier investors include Glynn Capital, Ribbit Capital, Sequoia Capital, and Stripe. Founded in 1996 by Dave Cutler, Wave Systems offers a mobile-based platform that enables users to send money, pay bills, and recharge globally through its iOS and Android apps.