WorkWave
“Can a 40-year-old field service SaaS become the financial operating system for the SMB service economy?”
Founded1984
HQHolmdel, New Jersey, USA
Total raised$8.3M disclosed (PE-backed)
Latest roundPE ownership (EQT and TA Associates)
IndustryVertical SaaS / Field Service
The story
Founded in 1984 as a field service software company, WorkWave was acquired by IFS in 2017, then spun out in 2021 as a free-standing PE-backed company under EQT and TA Associates. In 2022 it launched WorkWave Financial Services — a bundle of embedded fintech (payments, cards, lending, EWA) targeted at pest control, lawn care, cleaning, and security service businesses. The 2024 Wisetack and YouLend partnerships and 2025 Wavelytics AI launch mark a clear shift from pure vertical SaaS toward a fintech-and-data platform for the SMB service economy.
Product timeline
2017
Acquired by IFS from previous ownership· acquisition
2021
Spun out as free-standing company under EQT and TA Associates ownership· pivot
2022
Launched WorkWave Financial Services including Business Builder Visa credit card· card
2022
Launched TEAM by WorkWave workforce management platform· banking
2024
Strategic partnerships with Wisetack (consumer BNPL) and YouLend (SMB capital)· lending
2025
Launched Wavelytics AI/analytics suite· pivot
The stack
7 layers disclosed in WorkWave’s embedded-finance stack
Payments / PSP
WorkWave Payments (self-operated)WorldpayAdyenCyberSourceOpenEdgeHandpointBridgePayInterPaymentsInfiniceptFinancial Transmission Network
Money movement
in the full report
Card network
in the full report
Lending
in the full report
Payroll
in the full report
KYC
in the full report
Accounting
in the full report
Accounting gap: minor
13 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.