← Embedded Finance Index 2026

Wag!

“Can a gig-economy pet services marketplace scale profitably enough to justify venture-scale capital deployment?”

Founded2015
HQSan Francisco, California, U.S.
FoundersBrendan Rogers, Joshua Viner, Jonathan Viner, Jason Meltzer
Total raised$368M+
Latest roundSecondary Market (post-bankruptcy, 2025)
Valuation~$650M (2018 SoftBank round)
IndustryMarketplace / Gig economy

The story

Founded in 2015 as an on-demand dog walking app, Wag! rapidly expanded with SoftBank's $300M infusion but faced governance and operational challenges that led SoftBank to exit at a loss in 2019. The COVID-19 pandemic severely disrupted its core in-person services business, prompting aggressive cost-cutting through AP automation with BILL and diversification into adjacent pet care services (training, vet care). Despite these pivots, the company ultimately filed for bankruptcy in July 2025, unable to achieve sustainable unit economics in the gig-economy pet services market.

Last 12 months

2025-07

Wag! filed for bankruptcy on July 21, 2025.

Product timeline

2015

Founded in Los Angeles, California as an on-demand dog walking mobile app.· pivot

2018

Raised $300M from SoftBank Vision Fund at ~$650M valuation; expanded to 100+ cities.· banking

2019

SoftBank sold its entire $300M stake back to the company at a significant loss.· pivot

2020

Used BILL Accounts Payable to slash costs by 60% during COVID pandemic and diversified into new service offerings.· pivot

2025

Filed for bankruptcy on July 21, 2025.· pivot

The stack

3 layers disclosed in Wag!’s embedded-finance stack

Payments / PSP

Stripe Connect

Accounting

in the full report

Spend / AP

in the full report

Accounting gap: minor

2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

Wag! — frequently asked

Who is Wag!'s payment processor?

Wag! processes payments through Stripe Connect.

Which accounting software does Wag! integrate with?

Wag! integrates with Oracle NetSuite.

What is Wag!'s embedded finance stack?

The Embedded Finance Index 2026 maps 3 layers in Wag!'s stack: Payments / PSP (Stripe Connect); Accounting (Oracle NetSuite); Spend / AP (BILL).

Who founded Wag!?

Wag! was founded by Brendan Rogers, Joshua Viner, Jonathan Viner and Jason Meltzer and is founded in 2015, headquartered in San Francisco, California, U.S..

How much funding has Wag! raised?

Wag! has raised $368M+ in total (latest round: Secondary Market (post-bankruptcy, 2025); valuation: ~$650M (2018 SoftBank round)).

Benchmark your own stack

Request an embedded finance strategy assessment

Get a read on where your own stack stands against Wag! and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.

Your category, mappedHow your stack compares to Wag! and the other companies in its category.
Build vs. buyWhere a provider relationship would close a gap faster than building it.
A named analyst, not a form replyA short call to scope what's actually worth assessing for you.