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Wave profile

Who owns Wave?

traditional · Dakar, SN · E-money institution · custody: Custodial

short answerWave is an e-money institution, not a bank. Customer money is safeguarded in segregated accounts at partner banks rather than held as insured deposits. Wave's most notable disclosed backers include HRTG (Sequoia Heritage), Founders Fund, Stripe and Ribbit Capital.

Is Wave a licensed bank?

No — it is an e-money institution. Licence detail: First non-telecom e-money issuer (BCEAO).

Where is your money held?

Custody model: Custodial.

No sponsor bank or infrastructure provider is publicly documented for Wave yet. Know one? Suggest it.

Who's behind Wave?

Wave was founded by Drew Durbin, Lincoln Quirk (2018), headquartered in Dakar, SN.

Early investors

Notable venture and strategic investors from Wave's publicly disclosed funding rounds (~$300M+; unicorn).

HRTG (Sequoia Heritage) ↗ Founders Fund ↗ Stripe ↗ Ribbit Capital ↗ Partech ↗

Is my money safe with Wave?

As an e-money institution, Wave safeguards funds in segregated accounts rather than insuring them as deposits. That protection works differently from a bank — money is generally not covered by deposit-guarantee schemes, though it must be ring-fenced from the company's own funds.

go deeperSee the full Wave profile with every verified field, or Wave alternatives. Raw fields: data.json.

Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.