๐ช๐ฒ๐ฎ๐น๐๐ต๐๐ถ๐บ๐ฝ๐น๐ฒ ๐ฅ๐ฎ๐ถ๐๐ฒ๐ $๐ฏ๐ฌ๐ฏ ๐ ๐ถ๐น๐น๐ถ๐ผ๐ป ๐ฎ๐ $๐ต.๐ต ๐๐ถ๐น๐น๐ถ๐ผ๐ป ๐ฉ๐ฎ๐น๐๐ฎ๐๐ถ๐ผ๐ป, ๐๐ฒ๐ฑ ๐ฏ๐ ๐๐๐
Wealthsimple, the Toronto-based digital financial services company, has agreed to an equity round of up to approximately $303 million (CAD $425 million) at a post-money valuation of approximately $9.9 billion (CAD $13.8 billion). The round includes a primary offering of about $214 million and a secondary offering of up to about $89 million. GIC, which co-led Wealthsimple's 2025 round, led the investment, with participation from existing investors Power Corporation of Canada, IGM Financial, ICONIQ, CPP Investments, and Inovia.
Wealthsimple offers managed investing, self-directed trading, checking and spending, and tax filing to more than 4 million Canadians and over 30,000 businesses. As of September 30, 2026, it held about $121 billion in assets under administration, up from roughly $71 billion at the time of its October 2025 raise. It launched more than 50 products in the past year, including options and futures trading, IPO Access, and business checking. In Q2 2026, new checking account openings outpaced new investment accounts for the first time.
The profitable company will use the new capital to expand its business, spending, checking, trading, and investment products and to invest in technology infrastructure. For advisors, platforms, and integrators, the raise shows how a firm that started as an investing app has grown into a full financial platform, now reaching 1 in 4 Canadians aged 18 to 40. A well-funded digital competitor continues to raise the bar for client experience and product breadth in Canadian wealth management.
Knote: Young people want to be able to control their entire financial lives with just their thumbs. 1 in 4 young Canadians use Wealthsimple and it is similar for Robinhood (75% of their 28 million funded accounts are 43 or younger, so maybe 15-20% penetration).
