tech from europe
Wave

The best alternatives to Wave

7 European alternatives · updated 10 October 2026 · How we select

Wave’s free invoicing and accounting pull in small businesses, but the lack of EU data residency and limited multi-currency support push European teams to look for alternatives that fit local compliance and workflow needs.

In short

Wave covers accounting, invoicing, receipts and payroll. European alternatives: Collmex, sevDesk, FreeAgent, Zervant and Lexware and 2 more. By area: Collmex, sevDesk and FreeAgent for accounting; Collmex, sevDesk and FreeAgent for invoicing; Collmex, FreeAgent and Lexware for receipts; FreeAgent for payroll.

European alternatives to Wave

Collmex🇩🇪 DE

German cloud accounting with VAT returns and online banking

Replaces Wave’s accounting, invoicing and receipts for German businesses with VAT returns and online banking.

AccountingInvoicingReceiptsFrom €8.95/mo★ 3.9 (6 reviews)
EU hostingGDPRFree planISO 27001
Collmex vs Wave →
What users praise and criticise
  • Comprehensive feature set covering invoicing, bookkeeping, inventory and project management
  • Flexibility to manage multiple companies within one account
  • Customizable workflows tailored to individual business needs
  • Interface can be overwhelming for beginners with a steep learning curve
  • Email-based invoice storage requires constant account linking and is impractical for many workflows
  • Missing some necessary integrations
sevDesk🇩🇪 DE

German accounting and invoicing software for freelancers and small businesses

Replaces Wave’s accounting and invoicing for German freelancers and small businesses.

AccountingInvoicing★ 3.9 (3882 reviews)
EU hostingGDPR
sevDesk vs Wave →
FreeAgent🇬🇧 GB

UK accounting software for freelancers and small businesses

Replaces Wave’s accounting, invoicing, receipts and payroll for UK freelancers and small businesses.

Covers all of WaveFrom £5/mo★ 4.6 (5568 reviews)
EU hostingGDPRFree planCyber Essentials Plus
FreeAgent vs Wave →
What users praise and criticise
  • Intuitive and user-friendly interface with a well-organized dashboard
  • Automatic bank and PayPal transaction imports for streamlined bookkeeping
  • Built-in tax, National Insurance, and HMRC RTI submission automation
  • Higher pricing compared to competitors, perceived as expensive for small businesses
  • Mobile app lacks features like split transactions and has small, hard-to-read text
  • Interface for viewing recent expenses described as clunky and prone to freezing
Zervant🇫🇮 FI

Simple invoicing and billing for freelancers and small businesses

Replaces Wave’s invoicing with a simpler tool for freelancers and small businesses; no accounting or payroll.

InvoicingFrom €9.99/mo★ 4.7 (6265 reviews)
EU hostingGDPRFree plan
Zervant vs Wave →
What users praise and criticise
  • Intuitive interface and clean design for easy navigation
  • Straightforward setup with guided assistance
  • Simple and efficient invoice and quote creation
  • Free version limits customers to 10–30, requiring an upgrade for larger client bases
  • Invoice templates are basic with minimal customization options
  • Occasional VAT/TAX calculation issues reported by users
Lexware🇩🇪 DE

German accounting and invoicing with DATEV integration

Replaces Wave’s accounting, invoicing and receipts for German businesses with DATEV integration.

AccountingInvoicingReceiptsFrom €7.90/mo★ 3.3 (1778 reviews)
EU hostingGDPR
Lexware vs Wave →
Banana Accounting Plus🇨🇭 CH

Swiss accounting software with double-entry bookkeeping and multi-currency support

Replaces Wave’s accounting, invoicing and receipts with Swiss double-entry bookkeeping and multi-currency support.

AccountingInvoicingReceiptsFrom 89 CHF/yr★ 4.5 (810 reviews)
Free plan
Banana Accounting Plus vs Wave →
What users praise and criticise
  • Excel-like interface for quick and easy transaction entry
  • Simple but comprehensive design accessible to non-accountants
  • New balance column and improved error alerts
  • Switch from one-time license to subscription model
  • Poor integration with other applications
  • Modest speed and performance
Reviso🇩🇰 DK

Cloud accounting and invoicing for SMEs with VAT and project tracking

Replaces Wave’s accounting, invoicing and receipts for SMEs with VAT and project tracking.

AccountingInvoicingReceiptsFrom £20/mo★ 2.8 (3 reviews)
EU hostingGDPR
Reviso vs Wave →

All Wave alternatives at a glance

Which part of Wave each alternative covers.

ProviderAccountingInvoicingReceiptsPayrollFromRating
Wave 🇨🇦 (the tool you are replacing)✓✓✓✓$16/mo★ 4.5
Collmex 🇩🇪✓✓✓€8.95/mo★ 3.9 (6)
sevDesk 🇩🇪✓✓On request★ 3.9 (3882)
FreeAgent 🇬🇧✓✓✓✓£5/mo★ 4.6 (5568)
Zervant 🇫🇮✓€9.99/mo★ 4.7 (6265)
Lexware 🇩🇪✓✓✓€7.90/mo★ 3.3 (1778)
Banana Accounting Plus 🇨🇭✓✓✓89 CHF/yr★ 4.5 (810)
Reviso 🇩🇰✓✓✓£20/mo★ 2.8 (3)

Prices per user and month in the cheapest paid plan. Ratings are weighted across G2, Capterra, OMR and other portals, with the review count in brackets.

Wave: the facts

What to know about the tool you are replacing, with sources.

Headquarters
🇨🇦 CA · since 2010
Where your data is stored
No EU data region
Contracts
DPA
Price
Free plan · from $16/mo
Rating
★ 4.5 (1,650 reviews)

What users value in Wave

  • User-friendly interface for non-accountants
  • Free plan covers essential features
  • Good mobile app experience

What they criticise

  • Limited advanced accounting features
  • No EU data residency
  • Payroll only available in certain regions

Sources: wave.co · capterra.com · g2.com · waveapps.com · researched 5 October 2026

Moving away from Wave

Wave exports your data as CSV and PDF.

Frequently asked questions

Which European tool fully replaces Wave?

FreeAgent covers accounting, invoicing, receipts and payroll. Lexware, Collmex and Reviso cover accounting, invoicing and receipts.

Which European Wave alternative is best for small businesses?

Zervant and FreeAgent are designed for freelancers and small businesses. Zervant offers a free plan and focuses on simple invoicing.

Can I migrate my data from Wave to a European alternative?

Check the import options of the tool you shortlist. Wave allows exporting data in CSV and PDF formats.

Are there Wave alternatives with EU data hosting?

Zervant, Lexware, FreeAgent, Collmex, sevDesk and Reviso host data in the EU.

How do European Wave alternatives compare on pricing?

Zervant, FreeAgent, Collmex, Lexware and Reviso publish their prices. sevDesk provides pricing on request.

Do European Wave alternatives support local tax rules?

Lexware integrates with DATEV for German tax compliance. Collmex supports VAT returns. Reviso includes VAT and project tracking.

Do any European Wave alternatives offer a free plan?

Zervant, FreeAgent, Collmex and Banana Accounting Plus offer free plans.

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