If you’ve been paying any attention to financial technology in Canada, chances are you’ve come across Wealthsimple. This nifty app and website was created seven years ago by four Canadians looking to revolutionize the country’s financial industry. Well, seven years later and they’ve just received a vote of confidence like no other: what might just be the largest monetary investment in Canadian history.
Meritech and Greylock, two of the world’s top tech investors, led the $750 million charge to take Wealthsimple to the next level. If you thought this company was big already, just wait until we find out what they’ve got in store. With this recent development, Wealthsimple is now valued at $5 billion. Wowza!
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Of course, the extra juicy part of all this is the many celebrities who chipped in to back the investment. Massive Canadian names like Drake, Ryan Reynolds, Michael J. Fox, Kelly Olynyk, Dwight Powell, Patrick Marleau, and more were involved.
The company was also backed by big-time investors like DST Global, Sagard, Iconic, Dragoneer, TCV, iNovia, Allianz X, Base 10, Redpoint, STEADFAST, Alkeon, TSV, and Plus Capital.
If Wealthsimple wasn’t already on the map, they sure are now! This investment will help them continue to grow and change the financial industry for all of us.
If you’d like to read more about it, you do so here.