{{short description|Canadian investment management company}} {{Infobox company | name = Wealthsimple Inc. | logo = Wealthsimple 2015 logo.svg | type = Private | traded_as = | predecessor = | successor = | founder = Michael Katchen, (CEO), Rudy Adler (CMO), Brett Huneycutt (CPO)<ref name="Clifford 2017">{{cite web | last=Clifford | first=Catherine | title=29-year-old CEO who manages $1 billion warns young people: Buying a home can be a 'terrible investment' | website=CNBC | date=2017-07-21 | url=https://www.cnbc.com/2017/07/21/ceo-michael-katchen-says-buying-a-home-can-be-a-terrible-investment.html | access-date=2022-11-02}}</ref> | defunct = | fate = | hq_location = | hq_location_city = Toronto, Ontario | hq_location_country = Canada<ref name="CNBC.com2017January10HoSolarina" /> | area_served = | key_people = | industry = Financial services, online investment management | owner = Power Corporation of Canada (52.4%)<ref name="2025FinancialResults">{{cite web |title=Power Corporation of Canada {{!}} Power Corporation Reports Fourth Quarter and 2025 Financial Results, and Dividend Increase of 9%, March 18, 2026 |url=https://www.powercorporation.com/en/news/press-releases/2026/2026-03-18-power-corporation-reports-fourth-quarter-and-2025-financial-results-and-dividend-increase-of-9/ |website=www.powercorporation.com |access-date=2 May 2026 |language=en}}</ref> | products = | services = Robo-advisor, stockbroker, electronic trading platform | revenue = | operating_income = | net_income = | aum = {{CAD | 124.8 billion|link=yes}} (2026)<ref name="PowerReport26" /> | assets = | assets_year = | equity = | num_employees = >1000<ref>{{cite web |url=https://www.wealthsimple.com/en-ca/about/work-with-us |title=About Wealthsimple: Work with us |access-date=1 April 2022 |website=wealthsimple.com |language=en}}</ref> | num_employees_year = 2025 | parent = | divisions = | subsidiaries = | footnotes = | caption = | founded = {{Start date and age|2014|09}}<ref name="FinancialPost2015April10CaseyQuentin" /> | num_locations = | website = {{URL|https://www.wealthsimple.com/}} }}
'''Wealthsimple Inc.''' is a Canadian online investment management service. The firm was founded in September 2014 by Michael Katchen, Brett Huneycutt, and Rudy Adler and is based in Toronto.<ref name="FinancialPost2015April10CaseyQuentin">{{cite news|last1=Casey|first1=Quentin|title=Wealthsimple aims to turn financial services industry on its head with new low-cost approach to investing|url=http://business.financialpost.com/entrepreneur/fp-startups/wealthsimple-aims-to-turn-financial-services-industry-on-its-head-with-new-low-coast-approach-to-investing|access-date=27 March 2017|agency=Postmedia Network Inc.|issue=FP Startups|publisher=Financial Post|date=10 April 2015|location=Canada|language=en}}</ref><ref name="Clifford 2017"/> As of October 22, 2025, the firm holds over C$100 billion in assets under administration.<ref name="GlobeMailWealthsimpleHits100B" /> It is primarily owned by Power Corporation, which holds a 52.4% undiluted stake aggregated through three entities: its wholly-owned subsidiary (Power Financial), its majority-owned subsidiary (IGM Financial), and its controlled alternative asset platform (Sagard's Portage Ventures).<ref>{{Cite web |date=March 18, 2026 |title=Power Corporation Reports Fourth Quarter and 2025 Financial Results, and Dividend Increase of 9% |url=https://www.powercorporation.com/en/news/press-releases/2026/2026-03-18-power-corporation-reports-fourth-quarter-and-2025-financial-results-and-dividend-increase-of-9/ |access-date=May 2, 2026 |website=Power Corporation of Canada|archive-url=https://web.archive.org/web/20260502175334/https://www.powercorporation.com/en/news/press-releases/2026/2026-03-18-power-corporation-reports-fourth-quarter-and-2025-financial-results-and-dividend-increase-of-9/|archive-date=May 2, 2026|url-status=live}}</ref>
==History== ===Pre-founding=== Prior to founding Wealthsimple, Michael Katchen worked for 1000Memories, a Silicon Valley–based startup.<ref name="FinancialPost2015April10CaseyQuentin" /> After Ancestry.com bought 1000Memories in 2012, Katchen developed a spreadsheet with tips to help his colleagues set up investment portfolios.<ref name="FinancialPost2015April10CaseyQuentin" /> Interest in the spreadsheet helped inspire the idea for Wealthsimple.<ref name="FinancialPost2015April10CaseyQuentin" /> In 2014, he returned to Toronto to launch the company.<ref name="FinancialPost2015April10CaseyQuentin" /><ref name="castaldo">Joe Castaldo, [http://www.canadianbusiness.com/innovation/change-agent/michael-katchen-wealthsimple/ "How Wealthsimple founder Michael Katchen is shaking up financial advice,"]{{Dead link|date=August 2025 |bot=InternetArchiveBot |fix-attempted=yes }} ''Canadian Business'', March 9, 2015.</ref>
===2015 acquisition of Canadian ShareOwner Investments Inc.=== In December 2015, Wealthsimple merged with '''Canadian ShareOwner Investments Inc.''', a Canadian order-execution only broker-dealer.<ref name="FinancialPost2015December02ChevreauJonathan">{{cite news|last1=Chevreau|first1=Jonathan|title=Millennial-focused Wealthsimple to buy boomer robo-adviser ShareOwner, its first acquisition|url=http://business.financialpost.com/personal-finance/millennial-focused-wealthsimple-takes-over-boomer-robo-adviser-shareowner|access-date=28 March 2017|agency=Postmedia Network Inc.|issue=Personal Finance – Young Money|publisher=Financial Post|date=2 December 2015|location=Canada|language=en}}</ref> Through the acquisition, Wealthsimple became an owner of one of Canada's 14 discount brokerages (2015) alongside other owners of discount brokerages including Bank of Montreal and Royal Bank of Canada.<ref name="FinancialPost2015December02ChevreauJonathan" /><ref name="techvibes">[http://www.techvibes.com/blog/wealthsimple-2015-12-02 "Wealthsimple Acquires Automated Investment Manager to Innovate Canadian FinTech,"] ''TechVibes'', December 2, 2015.</ref> The acquisition of Canadian ShareOwner Investment Inc. resulted in the assets under management comprising {{CAD|400,000,000|link=yes}} across 10,000 customer accounts.<ref name="FinancialPost2015December02ChevreauJonathan" />
===Since 2016: focus on product offerings=== In 2015, Product Hunt Toronto honoured Wealthsimple with its first-ever Product of the Year Award.<ref name="soltys">Douglas Soltys, [http://betakit.com/happy-birthday-producthuntto/ “Happy Birthday, #Producthuntto,”] [http://betakit.com/ Betakit.com], August 28, 2015.</ref> In 2016, the 20th Annual Webby Awards named Wealthsimple its Best Financial Services/Banking website.<ref name="webby" />
In March 2016, Wealthsimple began offering clients access to socially responsible investment funds.<ref name="ohara">Clare OíHara, [https://www.theglobeandmail.com/globe-investor/funds-and-etfs/canadian-robo-advisers-plug-into-socially-responsible-investing/article29388045/ "Canadian robo-advisers plug into socially responsible investing,"] ''The Globe and Mail'', March 24, 2016.</ref>
In May 2016, the firm announced a partnership with Mint, thus allowing clients to sync their Wealthsimple investment account to Mint's budgeting software.<ref name="webby">[http://www.techvibes.com/blog/wealthsimple-2016-05-03 "Wealthsimple Wins Webby Award, Partners with Mint,"] ''TechVibes'', May 3, 2016</ref> Also, that month, Wealthsimple launched ''Wealthsimple for Advisors'', an automated platform for financial advisors. The service is intended for advisors who wish to maintain clients with accounts below their minimum requirements.<ref name="collie">Fiona Collie, [http://www.investmentexecutive.com/-/wealthsimple-launches-platform-for-advisors "Wealthsimple launches platform for advisors,"] ''[Investment Executive]'', May 24, 2016.</ref>
On April 5, 2018, the firm launched ''Wealthsimple Save'', a high-interest savings account with a rate that will always be higher than traditional banks.<ref>{{cite news |title=Robo-adviser Wealthsimple launches savings account with premium rate {{!}} Financial Post |url=https://business.financialpost.com/news/fp-street/robo-adviser-wealthsimple-launches-savings-account-with-premium-rate |access-date=16 May 2019 |work=Financial Post |date=5 April 2018 |language=en-CA}}</ref><ref name="ws-save">{{cite web |title=Wealthsimple Save: High Interest Savings |url=https://www.wealthsimple.com/en-ca/product/save/ |website=www.wealthsimple.com |access-date=16 May 2019}}</ref> ''Wealthsimple Trade'', a zero-commission stock and exchange-traded fund (ETF) trading mobile app, was available as a beta in August 2018 and publicly launched in March 2019.<ref name=":1">{{cite web |title=The Wait(list) is Over: Say Hello to Wealthsimple Trade |url=https://www.wealthsimple.com/en-ca/magazine/news-trade-launch |website=Wealthsimple Magazine |access-date=16 May 2019 |date=March 13, 2019}}</ref><ref name=":2">{{cite news |last1=O’Hara |first1=Clare |title=Wealthsimple launching zero-commission trading platform |url=https://www.theglobeandmail.com/investing/article-wealthsimple-launching-zero-commission-trading-platform/ |access-date=16 May 2019 |agency=The Globe and Mail |date=August 15, 2018}}</ref>
As of March 2019, Wealthsimple publicly supports Wealthica synchronization via their secure, open API.<ref name="wealthica">{{cite web |last1=Boulet |first1=Simon |title=Announcing support for the new Wealthsimple API! |url=https://wealthica.com/blog/announcing-support-for-the-new-wealthsimple-api/ |website=Journey to $10B : Wealthica |access-date=16 May 2019 |date=12 March 2019}}</ref>
In January 2020, Wealthsimple launched ''Wealthsimple Cash'' for Canadian customers, a hybrid savings/chequing account offering high interest on balances. Spending features such as a Visa Debit card, e-transfers, bill payments, and paycheque/cheque deposits are planned to be rolled out through 2020.
As of March 2020, Wealthsimple Trade became unable to handle the volume of trades their customers were placing and began capping the number of users and putting some investors on to waitlists.<ref>{{cite news|url=https://business.financialpost.com/investing/retail-investors-say-theyre-losing-thousands-as-brokerages-struggle-with-record-traffic-due-to-coronavirus-panic|title=Retail investors say they're losing thousands as brokerages struggle with record traffic due to coronavirus panic - Financial Post|newspaper=Financialpost|date=25 March 2020|access-date=25 March 2020}}</ref>
In November that year, Wealthsimple Cash transitioned from a savings account to a peer-to-peer cash transfer app. Having first launched in beta, the app was made widely available in March 2021.<ref name=":4">{{cite web|url=https://www.investmentexecutive.com/news/industry-news/wealthsimples-peer-to-peer-app-goes-national/|title=Wealthsimple Peer to Peer App Goes National - Investment Executive|date=12 March 2021|access-date=30 April 2020}}</ref>
On July 8, 2021, Wealthsimple Trade announced that they would launch fractional shares in the platform, starting the next day.{{citation needed|date=February 2021}}
In October 2022, Wealthsimple announced that it had become Canada's first nonbank, non-credit-union to be approved for a direct settlement account by the Bank of Canada, paving the way for its access to Canada's future real-time-rail payment system.<ref>{{cite news|publisher=The Canadian Press|title=Wealthsimple secures access for upcoming real-time-rail payment system|location=Toronto, ON|work=The Globe and Mail|date= 19 October 2022|access-date=2023-10-01|url= https://www.theglobeandmail.com/business/article-wealthsimple-secures-access-for-upcoming-real-time-rail-payment-system/}}</ref>
In October 2024, Wealthsimple launched their own travel eSIM with Gigs.<ref>{{Cite web |last=Koumelis |first=Theodore |date=2024-10-28 |title=Wealthsimple clients now get global travel eSIMs powered by Gigs |url=https://www.traveldailynews.com/technology/wealthsimple-clients-now-get-global-travel-esims-powered-by-gigs/ |access-date=2024-10-31 |website=TravelDailyNews International |language=en}}</ref> The following year, the company surpassed $100 billion CAD in total assets under administration (AUA).
==Products and services== ===Invest=== '''Wealthsimple Invest''' is the company's automated investing service, which manages users' investments via a personalized portfolio of low-fee exchange-traded funds.<ref name=":5">{{Cite web|url=https://help.wealthsimple.com/hc/en-ca/articles/4404787366039-What-is-Wealthsimple-Invest-|title=What is Wealthsimple Invest? – Help Centre}}</ref>
Via '''Wealthsimple for Advisors''' and also for firms via '''Wealthsimple for Work''', Wealthsimple combines a robo-advisor platform with access to live advisors.<ref name="FinancialPlanning2017January24DinSuleman">{{cite news|last1=Din|first1=Suleman|title=U.S. robo adviser market opens up to foreign competition|url=https://www.financial-planning.com/news/newest-robo-adviser-will-serve-us-clients-from-canada|access-date=25 March 2017|agency=SourceMedia|publisher=Financial Planning|date=24 January 2017|location=United States|language=en}}</ref><ref>{{cite web|last1=Kyle |url= https://youngandthrifty.ca/wealthsimple-review |title= Wealthsimple Review |access-date=24 December 2017}}</ref><ref name="johne">Marjo Johne, [https://www.theglobeandmail.com/globe-investor/wealth-the-next-generation/article29937104/ "Meet the next generation of wealth,"] ''The Globe and Mail'', May 9, 2016.</ref> Each client is provided an investment advisor who helps match investments to the client's long-term goals and risk tolerance.
In September 2018, the company started offering a micro-investing service called Roundup, which automatically rounds up purchases and invests the extra change into one's Wealthsimple investment account.<ref>{{Cite web|url=https://www.wealthsimple.com/en-ca/magazine/news-roundup|title=Introducing Roundup. Automatically Invest Your Spare Change.|website=Magazine|date=17 September 2018 |access-date=2020-01-30}}</ref>
Micro-investing is a type of investment strategy that is designed to make investing regular, accessible and affordable, especially for those who may not have a lot of money to invest or who are new to investing.<ref>{{Cite web |title=The Innovators – Meet the 65 Companies and Their Owners Who Have Conjured Up the Latest Wave of Products, Services, and Technologies |date=May 1, 2001 |url=https://money.cnn.com/magazines/fsb/fsb_archive/2001/05/01/302520/ |archive-url=https://web.archive.org/web/20160731164802/http://money.cnn.com/magazines/fsb/fsb_archive/2001/05/01/302520 |url-status=dead |archive-date=July 31, 2016 |access-date=2023-04-20 |website=money.cnn.com}}</ref><ref>{{Cite news |first=Aaron |last=Lucchetti |title=E-Tailers Allow Buyers to Add Fund Investments to Carts |url=https://www.wsj.com/articles/SB945730607441550739 |access-date=2023-04-20 |newspaper=The Wall Street Journal |date=22 December 1999 |language=en-US}}</ref>
=== Chequing === '''Wealthsimple Chequing''' (formerly called '''Wealthsimple Cash''') is a peer-to-peer cash transfer platform.<ref name=":5" />
In April 2018, the company began offering '''Smart Savings''' (later known as '''Wealthsimple Save'''), an interest-earning savings account.<ref>{{Cite news|last=Greenwood|first=Max|date=5 April 2018|title=Wealthsimple Launches Savings Account to Compete with Big Banks|work=Techvibes|url=https://techvibes.com/2018/04/05/wealthsimple-launches-savings-account-to-compete-with-big-banks|access-date=7 April 2018}}</ref><ref>{{Cite news|date=2018-04-05|title=Robo-adviser Wealthsimple launches savings account with premium rate|language=en-US|work=Financial Post|url=http://business.financialpost.com/news/fp-street/robo-adviser-wealthsimple-launches-savings-account-with-premium-rate|access-date=2018-05-14}}</ref>
In January 2020, the company launched Wealthsimple Cash for Canadian customers, a hybrid savings/chequing account offering high interest on balances. That November, Wealthsimple Cash transitioned from a savings account to a peer-to-peer cash transfer app.<ref name=":4" />
On March 29, 2021, Wealthsimple simplified the names of their products and how users see their accounts. Since the update, users are only able to have one Wealthsimple Cash account, and any accounts that are not connected to the Wealthsimple Cash app now appear as ''Wealthsimple Save''.<ref>{{cite web |url=https://help.wealthsimple.com/hc/en-ca/articles/1500004677002-Account-name-update-to-Wealthsimple-Save |title=Account name update to Wealthsimple Save – Help Centre |website=help.wealthsimple.com |url-status=dead |archive-url=https://web.archive.org/web/20210416223814/https://help.wealthsimple.com/hc/en-ca/articles/1500004677002-Account-name-update-to-Wealthsimple-Save |archive-date=2021-04-16}}</ref>
In May 2025, the company phased out their Save and Smart Savings account. In June 2025, Cash accounts were renamed to Wealthsimple Chequing accounts.<ref>{{cite news |last1=Got |first1=Jonathan |title=Wealthsimple launches new features for chequing accounts |url=https://www.investmentexecutive.com/news/products/wealthsimple-launches-new-features-for-chequing-accounts/ |access-date=July 24, 2025 |work=Investment Executive |date=June 11, 2025 |language=en}}</ref>
In January 2026 Wealthsimple added the ability to deposit Canadian cash via Canada Post <ref>{{Cite news |date=2026-01-28 |title=Wealthsimple partners with Canada Post to accept physical cash deposits |url=https://www.theglobeandmail.com/investing/personal-finance/article-wealthsimple-canada-post-physical-cash-deposits/ |access-date=2026-03-26 |work=The Globe and Mail |language=en-CA}}</ref>
=== Credit Card === In June 2025 Wealthsimple launched a Visa credit card product<ref>{{Cite news |date=Jun 11, 2025 |title=Wealthsimple launches credit card, new line of credit to challenge big banks |url=https://www.cbc.ca/news/business/wealthsimple-announces-credit-card-1.7558568 |access-date=26 March 2026 |work=CBC News |language=English}}</ref> offering Visa Infinite tier cards. Later on Wealthsimple added a Visa Infinite Privilege.
=== Trade and Crypto === '''Wealthsimple Trade''' is a self-directed investment platform, allowing users to buy and sell various individual stocks and exchange-traded funds (ETFs) on major Canadian and U.S. exchanges.<ref name=":5" /> This platform was introduced in March 2019, offering a stock and ETF trading account with zero-commission fees in the U.S. and Canada.<ref name=":1" /><ref name=":2" /> Wealthsimple Trade was the first commission-free trading platform in Canada.<ref>{{Cite web|date=2021-03-05|title=Wealthsimple Trade in-depth review 2021: The pros and cons|url=https://www.moneysense.ca/save/investing/wealthsimple-trade-review/|access-date=2021-11-12|website=MoneySense|language=en-US}}</ref>
'''Wealthsimple Crypto''' is the company's platform for buying and selling several cryptocurrencies, including BTC and ETH. This service is offered through the same app/web portal as Trade. Much like Trade, this service has no fees.<ref>{{Cite web|title=Wealthsimple Crypto: Buy & Sell Bitcoin & Ethereum Instantly.|url=https://www.wealthsimple.com/en-ca/product/crypto/|access-date=2021-05-02|website=www.wealthsimple.com|language=en}}</ref> WealthSimple Crypto now allows users to deposit and withdraw select cryptocurrencies to and from self-custody wallets.<ref>{{Cite web |title=We've Got Wallets (Crypto, Not Velcro!) |url=https://www.wealthsimple.com/en-ca/magazine/crypto-wallets |access-date=2022-04-05 |website=www.wealthsimple.com |date=2 March 2022 |language=en}}</ref><ref>{{Cite web |title=Deposit cryptocurrency from an external wallet - Supported cryptocurrencies when making a deposit |url=https://help.wealthsimple.com/hc/en-ca/articles/4405752552859-Deposit-cryptocurrency-from-an-external-wallet#:~:text=Supported%20cryptocurrencies%20when%20making%20a%20deposit }}</ref>
===Tax=== '''Wealthsimple Tax''' (formerly '''SimpleTax''') is an all-in-one tax preparation and filing platform.<ref name=":6">{{Cite web|date=2021-04-12|title=Wealthsimple Tax review 2021|url=https://www.moneysense.ca/save/taxes/wealthsimple-tax-review/|access-date=2021-11-12|website=MoneySense|language=en-US}}</ref>
SimpleTax was founded in 2012 by Allison Suter, Jonathan Suter, and Justin Reynen.<ref>{{cite web|url=https://www.cbc.ca/news/business/taxes/does-free-tax-software-come-with-a-catch-no-say-developers-1.2992964|title=Does free tax software come with a catch? No, say developers|first=Trinh Theresa|last=Do|work=CBC News|date=April 19, 2015|access-date=March 17, 2026}}</ref> Wealthsimple acquired the platform in September 2019. The acquisition of SimpleTax added online tax-return preparation and filing service to Wealthsimple's suite of financial products.<ref name=":6" /><ref>{{Cite news|url=https://www.theglobeandmail.com/business/article-wealthsimple-expands-into-tax-software-space-with-acquisition-of/|title=Wealthsimple expands into tax software space with acquisition of SimpleTax|access-date=2019-09-27}}</ref><ref>{{Cite web|url=https://www.bnnbloomberg.ca/wealthsimple-expands-into-tax-software-with-acquisition-of-simpletax-1.1320920|title=Wealthsimple expands into tax software with SimpleTax acquisition |date=2019-09-24|website=BNN|access-date=2019-09-27}}</ref>
==Current operations==
===Assets under management=== In December 2023, Mike Katchen announced the company is targeting CA$100B in assets under administration within five years.<ref name="QuadrupleAssets">{{Cite web|title=Wealthsimple Aims to Quadruple Assets to $74 Billion in Five Years|url=https://www.bnnbloomberg.ca/wealthsimple-aims-to-quadruple-assets-to-74-billion-in-five-years-1.2007729|website=bnnbloomberg.ca|date=5 December 2023 |language=en}}</ref> In October 2025, Michael Katchen announced that Wealthsimple had reached CA$100B in assets under administration 3 years ahead of schedule.<ref name="GlobeMailWealthsimpleHits100B">{{cite web |title=Wealthsimple hits $100-billion in assets as investors plough money into discount brokerage accounts |url=https://www.theglobeandmail.com/business/article-wealthsimple-100-billion-in-assets/ |access-date=23 October 2025 |language=en}}</ref> {| class="wikitable style="text-align: right;" ! Year ! # of Clients (excluding tax filers) ! AUM (CA$) |- |2026 March 31 |{{Format price|3400000}}<ref name="PowerReport26">{{cite web |title=Power Corporation First Quarter Report for 2026 |url=https://www.powercorporation.com/media/uploads/reports/quarter/bpcc-2026-q1-eng.pdf |access-date=22 May 2026 |language=en}}</ref> |{{Format price|124800000000}}<ref name="PowerReport26" /> |- |2025 Dec 31 |{{Format price|3200000}}<ref name="PowerReport25">{{cite web |title=Power Corporation Annual Report for 2025 |url=https://www.powercorporation.com/media/uploads/reports/annual/bpcc-2025-annual-report-eng.pdf |access-date=22 May 2026 |language=en}}</ref> |{{Format price|111300000000}}<ref name="PowerReport25" /> |- |2024 Dec 31 |{{Format price|2600000}}<ref name="PowerReport24">{{cite web |title=Power Corporation Annual Report for 2024 |url=https://www.powercorporation.com/media/uploads/reports/annual/bpcc-annual-report-2024-en-final.pdf |access-date=24 July 2025 |language=en}}</ref> |{{Format price|64000000000}}<ref name="PowerReport24" /> |- |2023 Dec 31 |{{Format price|2200000}}<ref name="PowerReport23">{{cite web |title=Power Corporation Annual Report for 2023 |url=https://www.powercorporation.com/media/uploads/reports/annual/bpcc-ar-2023-en.pdf |access-date=4 August 2024 |language=en}}</ref> |{{Format price|31000000000}}<ref name="PowerReport23" /> |- |2022 Dec 31 |{{Format price|2000000}}<ref name="PowerReport22">{{cite web |title=Power Corporation Annual Report for 2022 |url=https://www.powercorporation.com/media/uploads/reports/annual/bpcc-2022-annual-report-final.pdf |access-date=6 January 2024 |language=en}}</ref> |{{Format price|18300000000}}<ref name="PowerReport22" /> |- |2021 Dec 31 |{{Format price|1600000}}<ref name="PowerReport21">{{cite web |title=Power Corporation Annual Report for 2021 |url=https://www.powercorporation.com/media/uploads/reports/annual/power_corporation_-_2021_annual_report-final.pdf |access-date=6 January 2024 |language=en}}</ref> |{{Format price|18800000000}}<ref name="PowerReport21" /> |- |2020 Dec 31 |{{Format price|500000}}<ref name="PowerReport20">{{cite web |title=Power Corporation Annual Report for 2020 |url=https://www.powercorporation.com/media/uploads/reports/annual/pcc-ar-2020-en_pX1OAm0.pdf |access-date=6 January 2024 |language=en}}</ref> |{{Format price|9700000000}}<ref name="PowerReport20" /> |- |2019 Dec 31 |{{Format price|250000}}<ref name="PowerReport19">{{cite web |title=Power Corporation Annual Report for 2019 |url=https://www.powercorporation.com/media/uploads/reports/annual/pcc-2019-annual-report-web_4C2nebJ.pdf |access-date=6 January 2024 |language=en}}</ref> |{{Format price|6300000000}}<ref name="PowerReport19" /> |- |2018 Dec 31 |{{Format price|100000}}<ref name="PowerReport18">{{cite web |title=Power Corporation Annual Report for 2018 |url=https://www.powercorporation.com/media/uploads/reports/annual/pcc_ar_2018_en.pdf |access-date=6 January 2024 |language=en}}</ref> |{{Format price|3400000000}}<ref name="PowerReport18" /> |- |2018 Oct 10 |100,000<ref name="CNBC-3b">{{cite news |last1=Browne |first1=Ryan |title=Robo-advisor Wealthsimple will likely raise more funding and definitely wants to IPO, CEO says |url=https://www.cnbc.com/2018/10/10/wealthsimple-will-likely-raise-more-funding-definitely-wants-to-ipo.html |access-date=15 May 2019 |work=CNBC |date=10 October 2018 |language=en}}</ref> |{{Format price|3000000000}}<ref name="CNBC-3b" /> |- |2018 Feb 21 |65,000<ref name="TheGlobeAndMail-1.9B">{{Cite news|url=https://www.theglobeandmail.com/globe-investor/power-financial-adds-to-investment-in-robo-adviser-wealthsimple/article38047474/|title=Power Financial adds to investment in robo-adviser Wealthsimple|date=2018-02-21|work=The Globe and Mail|access-date=2018-02-21}}</ref> |{{Format price|1900000000}}<ref name="TheGlobeAndMail-1.9B" /> |- |2017 May 11 |30,000<ref name="Reuters50M-1B">{{Cite news|url=https://www.reuters.com/article/canada-wealth-idUSL1N1IB1YQ|title=Power Financial invests C$50 million in 'robo-adviser' Wealthsimple|date=2017-05-11|work=Reuters|access-date=2017-05-12}}</ref> |{{Format price|1000000000}}<ref name="Reuters50M-1B" /> |- |2017 Jan 10 |15,000<ref name="CNBC.com2017January10HoSolarina" /> |{{Format price|750000000}}<ref name="CNBC.com2017January10HoSolarina" /><ref>{{Cite news|url=https://techcrunch.com/2017/05/11/weathsimple-37m-power-financial/|title=Robo-advisor Wealthsimple raises another $37 million from Power Financial|last=Lawler|first=Ryan|work=TechCrunch|access-date=2017-11-20|language=en}}</ref> |- |2015 Dec 2 |10,000<ref name="FinancialPost2015December02ChevreauJonathan" /> |{{Format price|400000000}}<ref name="FinancialPost2015December02ChevreauJonathan" /> |- |2015 April 10 |1,000<ref name="FinancialPost2015April10CaseyQuentin" /> |}
===Funding=== In May 2014, the company raised {{CAD|1.9|link=yes}}{{Spaces|1}}million from investors Eric Kirzner, Joe Canavan, and Roger Martin.<ref name="FinancialPost2015December02ChevreauJonathan" /><ref name="FinancialPost2015April10CaseyQuentin" />
In April 2015, the firm received $10{{Spaces|1}}million from Power Financial Corporation in an agreement structured to allow for a future investment of $20{{Spaces|1}}million within 12 months.<ref name="FinancialPost2015April09PettDavid">{{cite news|last1=Pett|first1=David|title=Power Financial Corp to invest up to $30-million in robo-adviser Wealthsimple|url=http://business.financialpost.com/entrepreneur/fp-startups/power-financial-corp-to-invest-up-to-30-million-in-robo-adviser-wealthsimple|access-date=28 March 2017|agency=Postmedia Network Inc.|issue=FP Street|publisher=Financial Post|date=9 April 2015|location=Canada|language=en}}</ref> In total, Power Financial Corporation has invested $30{{Spaces|1}}million in Series A funding.<ref name="CNBC.com2017January10HoSolarina">{{cite news|last1=Ho|first1=Solarina|title=Canadian fintech startup Wealthsimple sees major 2017 growth|url=https://www.cnbc.com/2017/01/10/reuters-america-canadian-fintech-startup-wealthsimple-sees-major-2017-growth.html|access-date=25 March 2017|agency=CNBC LLC.|publisher=CNBC.com|date=10 January 2017|location=United States|language=en}}</ref><ref name="BloombergNews2016January18AlexanderDoug">{{cite news|last1=Alexander|first1=Doug|title=Bank of Montreal Enters Robo-Advising Ahead of Other Lenders|url=https://www.bloomberg.com/news/articles/2016-01-18/bank-of-montreal-jumps-into-robo-advising-ahead-of-other-lenders|access-date=25 March 2017|agency=Bloomberg L.P.|issue=Tech|publisher=Bloomberg News|date=18 January 2016|location=United States|language=en}}</ref> It is now primarily owned by Power Corporation indirectly at 77.4% (the investments were through their holdings in Power Financial, IGM Financial, and Portag3).<ref name=":0">{{Cite web |title=Power Corporation of Canada {{!}} Organization Chart |url=https://www.powercorporation.com/en/companies/organization-chart/ |access-date=2019-05-15 |website=www.powercorporation.com |language=en}}</ref>
In October 2020, Wealthsimple raised $114{{Spaces|1}}million (US$87{{Spaces|1}}million) in funding from an investor group led by Technology Crossover Ventures, in addition to Greylock Partners, Meritech Capital Partners, Two Sigma Ventures, and Allianz X.<ref>{{cite web |last1=Bloomberg |first1=B. N. N. |title=Wealthsimple tops $1B valuation in latest fundraising round |url=https://www.bnnbloomberg.ca/wealthsimple-tops-1b-valuation-in-latest-fundraising-round-1.1507929 |website=BNN |access-date=28 February 2021 |date=14 October 2020}}</ref>
In May 2021, Wealthsimple announced a $750 million CAD financing round at a post-money valuation of $5 billion CAD, co-led by Meritech Capital Partners and Greylock Partners. Other investors included DST Global, ICONIQ Capital, Dragoneer Investment Group, TCV, iNovia Capital, Allianz X, and celebrity investors including Drake, Michael J. Fox, and Ryan Reynolds.<ref>{{cite web|url=https://www.mccarthy.ca/en/experience/wealthsimple-announces-c-750m-investment-round|title=Wealthsimple announces C$750M investment round|publisher=McCarthy Tétrault|date=May 3, 2021}}</ref>
In October 2025, Wealthsimple raised $750 million CAD in a Series F round at a post-money valuation of $10 billion CAD, co-led by Dragoneer Investment Group and GIC. The round included new investor CPP Investments, and existing investors Power Corporation of Canada, IGM Financial, ICONIQ Capital, Greylock Partners, and Meritech Capital Partners.<ref>{{cite web|url=https://newsroom.wealthsimple.com/wealthsimple-announces-750-million-equity-round-at-10-billion-post-money-valuation-to-accelerate-growth|title=Wealthsimple announces $750 million equity round at $10 billion post-money valuation to accelerate growth|publisher=Wealthsimple|date=October 27, 2025}}</ref><ref>{{cite web|url=https://www.fintechfutures.com/venture-capital-funding/canadas-wealthsimple-bags-around-538m-in-fresh-funding-at-7.2bn-valuation|title=Canada's Wealthsimple bags $538m in fresh funding|publisher=FinTech Futures|date=October 29, 2025}}</ref>
== See also== * List of electronic trading platforms
==References== {{reflist}}
==External links== * {{official website}}
{{Online brokerages}}
Category:Robo-advisors Category:Financial services companies established in 2014 Category:Online services Category:Online brokerages Category:Investment companies of Canada Category:Financial services companies of Canada Category:Financial services companies based in Toronto Category:Financial technology companies Category:Neobanks Category:Power Corporation of Canada