Loop and Wave form partnership to streamline business banking in Canada

Source: Loop

Loop, the leading financial platform for Canadian businesses operating globally, and Wave, the financial management technology platform trusted by more than 300,000 small business owners, announced a strategic partnership to streamline financial operations for Canadian entrepreneurs. This collaboration includes the launch of a native, direct API connection for customers to integrate their Loop banking data to Wave’s accounting platform, making Loop the first business banking solution in Canada to do so.

For years, Canadian small businesses haven’t had the ability to seamlessly connect their banking data to their accounting records. Many rely on screen scraping – a fragile, legacy process that often leads to duplicate records, frequent reconnection requests and limited data. By launching a dedicated API bridge, Loop and Wave have established a new standard for Canadian businesses to leverage their banking data to streamline their financial operations.

“We built Loop to remove the friction of managing your finances, and that friction doesn’t stop at the bank account – it extends to the tools businesses use to manage their growth every day,” said Cato Pastoll, chief executive officer of Loop.

“By partnering with Wave, we aren’t just delivering a technical integration – we’re giving entrepreneurs a comprehensive financial head start. We are incredibly excited to enable Wave users to become some of the first in Canada to benefit from a more closely integrated banking and accounting experience.”

“Wave’s mission has always been to simplify the financial lives of small business owners,” said Adnan Glavas, director of strategic partnerships.

“This strategic partnership and direct API connection with Loop is a massive leap forward for our users. Now, our customers can leverage Loop’s robust small business banking capabilities, knowing their data flows into Wave with unparalleled accuracy, in real-time. This partnership will help save our customers time and give them complete confidence in their financial records.”

A seamless path to global growth

Canadian businesses can now manage multi-currency accounts, international payments, and corporate credit cards within Loop, while their data flows automatically and accurately into Wave.

Key benefits of the partnership and integration include:

• High-fidelity data sync: A secure, permanent digital bridge that eliminates errors and ensures stronger transaction precision between Loop and Wave.
• Native multi-currency support: Global transactions in USD, EUR, and GBP land in their native currency ledgers automatically.
• Zero-maintenance connectivity: Unlike traditional bank feeds, the direct API connection helps to eliminate manual workflows.