<s>
The	O
company	O
's	O
first	O
product	O
was	O
a	O
free	O
online	O
accounting	B-Application
software	I-Application
designed	O
for	O
businesses	O
with	O
19	O
employees	O
,	O
followed	O
by	O
invoicing	O
,	O
personal	O
finance	O
and	O
receipt-scanning	O
software	O
(	O
OCR	O
)	O
.	O
</s>
<s>
a	O
credit	O
card	O
processing	O
tool	O
,	O
Payments	O
by	O
Wave	O
,	O
built	O
initially	O
on	O
integration	O
with	O
Stripe	B-Application
credit	O
card	O
processing	O
.	O
</s>
<s>
However	O
Wave	O
does	O
not	O
report	O
merchant	O
fees	O
correctly	O
for	O
countries	O
where	O
Stripe	B-Application
charges	O
a	O
tax	O
such	O
as	O
GST	O
.	O
</s>
<s>
In	O
these	O
cases	O
the	O
merchant	O
fees	O
are	O
reported	O
without	O
tax	O
and	O
do	O
not	O
match	O
your	O
Stripe	B-Application
account	O
.	O
</s>
<s>
CEO	O
Kirk	O
Simpson	O
and	O
CPO	O
James	O
Lochrie	O
launched	O
Wave	B-Application
Accounting	I-Application
Inc	O
.	O
in	O
July	O
2009	O
.	O
</s>
<s>
Wave	B-Application
Accounting	I-Application
launched	O
to	O
the	O
public	O
on	O
November	O
16	O
,	O
2010	O
.	O
</s>
<s>
In	O
May	O
2012	O
,	O
Wave	B-Application
Accounting	I-Application
closed	O
its	O
series	O
B	O
financing	O
round	O
led	O
by	O
The	O
Social+Capital	O
Partnership	O
,	O
with	O
follow-on	O
participation	O
from	O
Charles	O
River	O
Ventures	O
and	O
OMERS	O
Ventures	O
.	O
</s>
