NAB Ventures gets its first exit

▤ Summary

It competes with the likes of Xero, MYOB, Intuit and Sage, but considers its target market to be sole proprietors and companies with fewer than 10 people and less than $2 million in revenue. "Yes we are motivated to produce a financial return, but the main reason for the fund is to bring innovation into the bank," Ms Widner said. The purchase extends H &R Blocks products, as well as its client portfolio, and strengthens its position in the small business market. H &R Block CEO Jeff Jones said cash flow management and bookkeeping were still significant pain points for small business. "Wave addresses these concerns by delivering financial solutions and a simple user experience on a single platform.

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