Canadian FinTech leader Wealthsimple has announced a Series E funding round of up to $750 million CAD, propelling the company to a $10 billion post-money valuation — double its $5 billion valuation from just one year ago.
The round includes a $550 million primary investment and up to $200 million in secondary share sales, and is co-led by existing investor Dragoneer Investment Group and new backer GIC, Singapore’s sovereign wealth fund. Additional participation came from CPP Investments, Power Corporation of Canada, IGM Financial, and long-time supporters Iconiq, Greylock, and Meritech Capital.
With this raise, Wealthsimple cements its position as Canada’s most valuable private tech company, surpassing peers like Cohere, Hopper, and 1Password. The deal is expected to close in Q4 2025.
“This raise reflects deep confidence from new and returning investors in our mission and in Wealthsimple’s role as a defining Canadian company,” said Michael Katchen, Co-founder and CEO. “We were deliberate in choosing long-term partners who believe in our vision for the future of financial services.”
A Milestone Moment for Canadian FinTech
Founded in 2014 as a robo-advisor, Wealthsimple has evolved into a full-stack financial platform serving more than three million clients. The company recently revealed that its assets under administration (AUA) have surpassed $100 billion, hitting that milestone three years ahead of schedule.
The fresh capital will be used to accelerate the product roadmap across investing, spending, and credit, while fueling strategic acquisitions and the expansion of its 1,000-person team.
The company has been profitable and continues to grow rapidly as it expands from retail investing into banking, wealth management, and payments. It was also recently named among the Bank of Canada’s first batch of registered payment service providers, marking a significant regulatory milestone.
“Few companies have achieved what Wealthsimple has in such a short time,” said Christian Jensen, Partner at Dragoneer Investment Group. “Their product velocity, customer focus, and category leadership remind us of the world’s most enduring global brands.”
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Strategic Growth and Global Partnerships
The latest raise brings together some of the world’s most prominent institutional investors. Power Corporation of Canada, the company’s largest shareholder, confirmed its ownership stake will remain “substantially unchanged.”
“Wealthsimple’s growth is a powerful example of Canadian innovation meeting global ambition,” said a Power Corporation spokesperson.
The funding also adds CPP Investments — one of the world’s largest pension funds — to Wealthsimple’s cap table, aligning the company with long-term partners committed to sustainable, scalable financial technology.
Wealthsimple has been actively pursuing M&A opportunities to strengthen its capabilities, recently acquiring Montréal-based Fey for investment research and San Francisco-based Plenty to expand its family wealth offerings.
IPO Optionality and Future Outlook
This Series E mirrors Wealthsimple’s 2021 $750 million round, which included $500 million in secondary share sales. Like then, this latest funding gives the company strategic flexibility — allowing early investors and employees to realize liquidity while giving Wealthsimple more breathing room before pursuing a potential IPO.
When asked about its listing plans, a company spokesperson reiterated that going public remains the long-term goal, though there are no immediate timelines to share.
Wealthsimple’s sights are now set on reaching $1 trillion in AUA by 2034, continuing its push to deliver modern, low-cost, and inclusive financial services for Canadians.
About Wealthsimple
Wealthsimple is a Toronto-based FinTech company on a mission to make financial services simple, accessible, and transparent. Founded in 2014, the company now serves over three million clients and manages more than $100 billion in assets. Its platform offers investing, banking, credit, and crypto products, all designed to help Canadians build long-term wealth.
Backed by global investors including Dragoneer, GIC, CPP Investments, Power Corp, and Iconiq, Wealthsimple is recognized as one of Canada’s most influential financial technology companies.
