Every, a TribalScale Venture Studio’s Portfolio Company, Acquired by Wave
TribalScale is pleased to share the news that Every, a FinTech startup launched through its Venture Studios model, has been acquired by Wave. Toronto-based Every provides business accounts and business debit cards to small businesses and entrepreneurs to simplify their financial lives.
The growth and acquisition of Every demonstrates the value of the Venture Studio process to enhance corporate innovation. The Venture Studios model leverages TribalScale’s expert teams, processes, and tools to source, invest in, and scale startups with corporate partners.
Every joined Venture Studios in February 2018 and as an early stage startup, received a combination of cash investment, customer introductions, and product development resources. Every was launched in June 2018 at TribalScale’s TakeOver Innovation Conference Studio Showcase, which had an audience of over 1,200 leading business executives and industry experts from around the world. Shortly after, the startup was named to Money 20/20’s Startup Academy, raised $600,000, and expanded to the US market.
“We’re thrilled to have been part of Every’s journey. It has been wonderful for the team to see Every grow from an innovative idea to startup acquisition in just a year,” said Lori Casselman, TribalScale’s President and COO. “We’re excited to continue supporting and innovating with the many talented entrepreneurs in our Venture Studios. This is a momentous time for all of us at TribalScale, and especially for the Every and Wave teams — congratulations!”
With Wave, Every will continue to simplify small business banking and a new vision that combines Wave and Every is planned for the coming months. Interested parties can join Every’s waiting list to be notified of further updates.
“Joining Wave is going to accelerate all aspects of our vision for Every. The team at Wave have done an incredible job simplifying finances for entrepreneurs and we know together we will have a huge impact on the lives of small business owners by joining their team. Our modern approach to deposit accounts and card products, combined with Wave’s suite of financial products has the potential to reduce a lot of friction for small business owners,” said Jeremy Black, Co-Founder and CEO of Every. “We can’t thank Venture Studios enough for supporting our vision from the earliest days. Working with the TribalScale team, and having access to their global networks and top-tier capabilities has been immensely valuable as we built the first version of our product and worked with customers to make it better.”
Building on this success, Venture Studios continues to partner with corporations on joint ventures in the automotive, financial services, enterprise product, media, and health care sectors. Executives interested in learning more about running a Venture Studio in partnership with TribalScale are encouraged to connect.
Venture Studios is continually accepting applications from entrepreneurs with early-stage startups and innovative ideas.
For additional information, see Wave Acquires Every to Expand Financial Services Integration.
TribalScale is a global innovation firm that helps enterprises adapt and thrive in the digital era. We transform teams and processes, build best-in-class digital products, and create disruptive startups. Learn more about us on our website. Connect with us on Twitter, LinkedIn & Facebook!
