Wealthsimple raises C$425m at C$13.8bn valuation

Wealthsimple has secured C$425m ($302.9m) in an equity round, valuing the company at CAD $13.8bn on a post-money basis.

The transaction comprises a C$300m primary offering and a secondary offering of up to C$125m.

GIC is leading the round after co-leading Wealthsimple’s 2025 equity round.

Existing investors participating include Power Corporation of Canada, IGM Financial, ICONIQ, Canada Pension Plan Investment Board (CPP Investments), and Inovia.

Wealthsimple said the primary capital will support its product roadmap across business, everyday spending and chequing, trading, and investment products.

The secondary component allows employees to sell shares.

The financing follows Wealthsimple’s C$750M raise in October 2025, which valued the business at C$10bn.

Over the past year, the company has introduced more than 50 products across investing, spending, chequing, and business.

These include commission-free options trading, futures trading, and IPO Access, which enables Canadians to invest in selected IPOs at the offering price.

The company also added Kids and Teens accounts, as well as access to QESI grants for Quebec families through their Wealthsimple RESP.

Other additions include cash deposits at more than 5,300 Canada Post locations, free cheque delivery, and same-day bank draft delivery.

Wealthsimple has launched a Portfolio Line of Credit for individuals and businesses, allowing clients to borrow against investments.

Its business offering now includes a business chequing account and a prepaid Business Visa card with 1% cash back.

As of 30 September 2026, Wealthsimple reported C$169.2bn in assets under administration, compared with C$100bn at the time of the October 2025 raise.

Wealthsimple CEO and co-founder Michael Katchen said: “This raise reflects the deep conviction our partners have in Wealthsimple’s mission and in our role as the company defining the future of financial services in Canada.

“These investors know our business deeply and chose to increase their commitment. With their support, we will keep building and innovating until every Canadian can live their entire financial life on Wealthsimple.”