Wealthsimple secures $300M in equity round led by GIC at $9.8B valuation. The Canadian fintech will use proceeds to accelerate product development across trading, investing, and banking services.
Amount Raised
$300 Million
Round Type
Venture
TorontoFinanceFintechLendingInvestors
Description
Wealthsimple has closed an equity round of approximately CAD $425 million ($300 million USD) at a post-money valuation of CAD $13.8 billion ($9.8 billion USD). The round comprises a CAD $300 million primary offering and a secondary component of CAD $125 million, led by Singapore-based investor GIC. Existing shareholders including Inovia, Power Corporation of Canada, IGM Financial, ICONIQ, and CPP Investments participated in the round. The Toronto-based fintech, which manages approximately $169 billion in assets for over four million customers, will deploy the capital to accelerate its product roadmap across everyday banking, trading, and investment services.
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