Klaviyo vs Wave
A detailed, side-by-side comparison of Klaviyo and Wave. We compare features, pricing, ease of use, and value for money to help you make the right choice in 2026.
Reviewed by the Ikaroa team · Last updated: March 2026
Quick Verdict
Klaviyo edges ahead overall with a rating of 4.5/5. However, Wave (3.8/5) may be the better fit if you prioritise Freelancers and micro-businesses wanting genuinely free accounting and invoicing. Read on for the full breakdown.
Klaviyo vs Wave at a Glance
Klaviyo
★ 4.5Klaviyo is the email and SMS marketing platform of choice for e-commerce businesses. Deeply integrated with Shopify, WooCommerce, and other e-commerce platforms, it uses customer data to power highly personalised email and SMS campaigns that drive revenue. Known for its powerful segmentation, predictive analytics, and revenue attribution.
Starting from: £0/month
Best for: E-commerce businesses wanting data-driven email and SMS marketing
Read full review →Wave
★ 3.8Wave is a genuinely free accounting platform for small businesses. It offers invoicing, accounting, receipt scanning, and financial reporting at no cost. Wave makes money through optional paid services like payroll, payments processing, and bookkeeping. Ideal for freelancers and micro-businesses on a tight budget.
Starting from: £0/month
Best for: Freelancers and micro-businesses wanting genuinely free accounting and invoicing
Read full review →Klaviyo vs Wave Feature Comparison
Here is how Klaviyo and Wave compare across the features that matter most. We have tested both platforms extensively across client implementations.
| Feature | Klaviyo | Wave |
|---|---|---|
| Free Plan Available | Yes | Yes |
| Starting Price | £0/month | £0/month |
| Best For | E-commerce businesses wanting data-driven email and SMS marketing | Freelancers and micro-businesses wanting genuinely free accounting and invoicing |
| Our Rating | 4.5/5 | 3.8/5 |
| Mobile App | Limited | Limited |
| Email Marketing | No | No |
| Automation | Yes | Limited |
| Reporting | Basic | Yes |
| Integrations | Limited | Limited |
| API Access | Limited | Limited |
| Ikaroa Exclusive Discount | N/A | N/A |
Klaviyo vs Wave Pricing
Pricing is often the deciding factor. Here is a full breakdown of what each platform charges at every tier:
Klaviyo Pricing
Free
£0/month
- ✓250 contacts
- ✓500 email sends
- ✓150 SMS credits
- ✓Core features
£16/month
- ✓500 contacts
- ✓5,000 emails
- ✓A/B testing
- ✓Automation flows
Email & SMS
£52/month
- ✓500 contacts
- ✓5,000 emails
- ✓1,250 SMS credits
- ✓Automated SMS flows
Wave Pricing
Free
£0/month
- ✓Unlimited invoicing
- ✓Accounting
- ✓Receipt scanning
- ✓Financial reports
Pro (Payments)
2.9% + 30p per transaction
- ✓Online payments
- ✓Bank payments
- ✓Recurring billing
Pro (Payroll)
£16/month + £5/employee
- ✓Self-service payroll
- ✓Direct deposits
- ✓Tax filings
Not sure which to pick?
Our team has implemented both Klaviyo and Wave for clients. We can help you decide based on your specific needs.
Klaviyo Pros and Cons
✓Pros
- •Best-in-class e-commerce integrations
- •Powerful predictive analytics and segmentation
- •Excellent revenue attribution reporting
- •Deep Shopify integration
- •Strong template library for e-commerce
✗Cons
- •Expensive as contact list grows
- •Steep learning curve for beginners
- •Overkill for non-e-commerce businesses
- •Free plan is very limited
- •SMS pricing can add up quickly
Wave Pros and Cons
✓Pros
- •Completely free for core accounting and invoicing
- •No user or feature limits on free plan
- •Easy to learn for beginners
- •Receipt scanning via mobile app
- •No trial period or hidden fees for core features
✗Cons
- •Revenue comes from payment processing fees
- •No inventory management
- •Limited integrations
- •No project tracking or time tracking
- •Payroll only available in US and Canada
Our Verdict: Klaviyo vs Wave
Both Klaviyo and Wave are solid options, but they serve different needs. Having implemented both for multiple clients, here is our recommendation:
Choose Klaviyo if you need E-commerce businesses wanting data-driven email and SMS marketing. With a starting price of £0/month and a rating of 4.5/5, it offers best-in-class e-commerce integrations.
Choose Wave if you need Freelancers and micro-businesses wanting genuinely free accounting and invoicing. Starting at £0/month with a 3.8/5 rating, it excels at completely free for core accounting and invoicing.
Still not sure? Talk to the Ikaroa team. We have helped hundreds of businesses make this exact decision, and we are happy to point you in the right direction.
🎁 Get either product at a discount through Ikaroa Partners
Consider Open Doors Instead
Why choose between Klaviyo and Wave? Open Doors gives you the best features of both in one platform, for less. It is an all-in-one CRM with email marketing, SMS, funnels, booking, invoicing, automation, and more, starting at just £97/month with unlimited contacts.
Need implementation help?
Ikaroa can set up Klaviyo or Wave for your business, migrate your data, and train your team. We have done it dozens of times.
Free consultation. No obligation.