News Summary

Toronto-based fintech company Wealthsimple has reached a valuation of $10 billion CAD following a successful $750 million CAD equity funding round. The funding includes $550 million in new capital and a $200 million secondary offering, co-led by Dragoneer Investment Group and GIC, with additional participation from the Canada Pension Plan Investment Board and other existing investors. Wealthsimple, known for its diverse financial services including investing, spending, and tax tools, manages $100 billion in assets. The company, which achieved profitability in 2024 and 2025, plans to utilize the new funds to enhance its financial product offerings and explore strategic opportunities. Wealthsimple has become a prominent digital finance platform in Canada, offering a wide range of services such as self-directed investing, crypto trading, and no-fee banking. The firm recently announced new investing features, including the ability to trade and buy real gold, and has a waitlist of over 300,000 Canadians for its upcoming credit card.