Wealthsimple Valuation Reaches $10 Billion
Wealthsimple Financial Corp. has raised $750 million in its latest equity round, valuing the company at $10 billion, making it one of Canada's most valuable startups.
The capital raise, announced on Monday, is co-led by Dragoneer Investment Group and GIC, with participation from new investor Canada Pension Plan Investment Board and existing investors including IGM Financial Inc., ICONIQ, Greylock, Meritech, and Power Corp.
- Primary offering: $550 million
- Secondary offering: up to $200 million
No specific statement is provided in the text for a quote.
Power Corp., which controlled 54% of the firm as of June 30, maintains its portion at about the same level after the new round.
Author's summary: Wealthsimple now valued at $10 billion.