Toronto’s Wealthsimple Valued at $10 Billion After $750M Funding Round

Toronto-based Wealthsimple, has raised up to $750 million CAD in a new equity round that values the fintech firm at $10 billion CAD.

The round includes $550 million in new funding and a $200 million secondary offering. It’s co-led by Dragoneer Investment Group and GIC, with participation from the Canada Pension Plan Investment Board (CPP Investments) and existing backers Power Corporation of Canada, IGM Financial, ICONIQ, Greylock, and Meritech.

Wealthsimple, known for its investing, spending, and tax tools, recently acknowledged it now has $100 billion in assets under administration, doubling from $50 billion a year earlier. Wealthsimple also reported profitability in both 2024 and 2025.

“This raise reflects deep confidence from new and returning investors in our mission and our role as a defining Canadian company,” said Michael Katchen, CEO and co-founder, Wealthsimple, in a statement on Monday. “We were intentional in choosing partners committed to the long-term future of Wealthsimple. These are well-respected, global leaders with a proven track record scaling category leaders, and who believe in our vision for the future of financial services.”

Wealthsimple plans to use the new capital to expand its investing, credit, and everyday banking products, and to pursue new strategic opportunities.

“Few companies have achieved what Wealthsimple has in the last few years,” said Christian Jensen, Partner at Dragoneer Investment Group. “The Wealthsimple team has built an expansive financial platform that millions of Canadians trust. They’re not just participating in Canada’s financial services industry; they’re redefining it. Wealthsimple’s product velocity, customer obsession, and category leadership remind us of some of the most enduring global companies and we’re thrilled to be partnering with them in this next phase of growth.”

Founded in 2014, the company has become one of Canada’s largest digital finance platforms, offering self-directed and managed investing, crypto trading, and no-fee banking features. It recently launched a waitlist for its first credit card, with over 300,000 Canadians signed up, and introduced a biannual livestream showcase called Wealthsimple Presents.

Last week, Wealthsimple held its ‘For Nerds Only’ event, where it announced new investing features, plus the ability to trade and buy real gold and more.

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