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

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

Wealthsimple, a Canadian financial innovator, has agreed an equity round worth up to CAD $425m, which values the company at CAD $13.8bn post-money.

The deal combines a CAD $300m primary component with a secondary sale of up to CAD $125m. GIC, which was a co-lead on Wealthsimple’s 2025 round, is heading this raise. Returning backers Power Corporation of Canada, IGM Financial Inc., ICONIQ, Canada Pension Plan Investment Board (CPP Investments) and Inovia are also taking part.

Wealthsimple will use the capital to fuel its next stage of expansion, speeding up a product pipeline that spans business services, everyday spending and chequing, trading and investments. The secondary portion allows staff to benefit from the value they have helped build.

The raise comes roughly a year after Wealthsimple secured CAD $750m at a CAD $10bn valuation in October 2025. Since then its core investing operation has continued to expand quickly, and its newer chequing, spending and business offerings have gained significant traction. The first quarter of 2026 delivered the firm’s strongest RRSP season to date, with a record number of account transfers. In the second quarter, new chequing accounts outnumbered new investment accounts for the first time.

Over the last 12 months, the company has rolled out more than 50 products. These include commission-free options and futures trading, and IPO Access, which lets Canadians buy into selected IPOs at the offer price. It also introduced Kids and Teens accounts and QESI grant access for Quebec families via its RESP. Clients can now deposit cash at more than 5,300 Canada Post locations and receive cheques and same-day bank drafts for free.


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