{"id":244311,"date":"2025-10-27T22:06:07","date_gmt":"2025-10-27T22:06:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/244311\/"},"modified":"2025-10-27T22:06:07","modified_gmt":"2025-10-27T22:06:07","slug":"wealthsimple-raises-750-million-in-deal-that-values-company-at-10-billion","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/244311\/","title":{"rendered":"Wealthsimple raises $750-million in deal that values company at $10-billion"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Wealthsimple’s chief executive officer Michael Katchen at the company’s Toronto office in July. It has become one of the few Canadian technology companies to achieve a $10-billion valuation.Cole Burston\/The Canadian Press<\/p>\n

Wealthsimple Technologies Inc.<\/a> has joined a rare club, becoming one of the few Canadian technology companies to achieve a $10-billion valuation on the strength of one of the largest domestic venture capital financings in recent years.<\/p>\n

The Toronto online financial-services provider said Monday it had raised $550-million in fresh capital, alongside a $200-million secondary sale by existing investors, to a group co-led by Dragoneer Investment Group and Singapore sovereign wealth fund GIC. The Canada Pension Plan Investment Board also participated in the financing.<\/p>\n

The deal is the latest in a string of multi-nine-figure financings this year of Canadian technology companies, including Cohere, Jane, StackAdapt and Tailscale, and comes less than a week after Wealthsimple disclosed it has surpassed $100-billion in assets under administration<\/a>, up nearly 100 per cent from the end of September, 2024. It hit that milestone three years ahead of schedule on the strength of soaring markets, which have enticed more Canadians to pour money into online trading accounts.<\/p>\n

Inside some of the coolest Technology Fast 50 companies<\/a><\/p>\n

The surge in assets has followed an explosive trend of Canadian investors looking to take ownership of their own savings and retirement. With the rise of social media financial influencers, a younger demographic and booming stock markets, more than 2.9 million Canadians opened trading accounts in the 12 months ended June, 2025, according to Investor Economics.<\/p>\n

The company said in a release that the capital raise will accelerate its expansion in investing, spending and credit, and support strategic opportunities to expand its offerings.<\/p>\n

\u201cThis raise reflects deep confidence from new and returning investors in our mission and our role as a defining Canadian company,\u201d chief executive officer and co-founder Michael Katchen said in a release. \u201cWe 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.\u201d <\/p>\n

More to come<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Wealthsimple’s chief executive officer Michael Katchen at the company’s Toronto office in July.…\n","protected":false},"author":2,"featured_media":244312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[901,888,902,879,877,903,45,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":["post-244311","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-business","tag-ca","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/244311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=244311"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/244311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/244312"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=244311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=244311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=244311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}