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Wealthsimple, the Canadian financial technology company, has agreed to an equity financing round of up to C$425 mn at a post-money valuation of C$13.8 bn, supported by growing customer adoption and expansion beyond its original investment platform.
The financing comprises a C$300 mn primary offering and a secondary transaction of up to C$125 mn, which will allow employees to realise part of the value of their holdings.
- Wealthsimple agreed to raise up to C$425 mn in equity financing at a post-money valuation of C$13.8 bn, with GIC leading the investment.
- Assets under administration reached C$169.2 bn as of September 30, 2026, up from C$100 bn in October 2025, with more than 4 mn Canadian customers.
- The Canadian fintech plans to expand its investing, trading, chequing and business banking services after introducing more than 50 products over the past year.
Singapore sovereign wealth fund GIC, which co-led Wealthsimple’s previous equity round in 2025, is leading the new investment. Existing investors Power Corporation of Canada, IGM Financial Inc., ICONIQ, Canada Pension Plan Investment Board (CPP Investments) and Inovia are also participating.
The transaction follows Wealthsimple’s C$750 mn fundraising in October 2025, when the company was valued at C$10 bn.
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.
Michael Katchen, CEO and co-founder of Wealthsimple
“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.”
Wealthsimple assets reach C$169.2 bn as customer base expands
Wealthsimple reported C$169.2 bn in assets under administration as of September 30, 2026, compared with C$100 bn when it announced its previous financing in October 2025.
The platform now serves more than 4 mn Canadians, including approximately one in four people aged 18 to 40 and one in nine aged 41 to 55. More than 30,000 businesses also use its services.
Its core investment business has continued expanding, alongside stronger adoption of newer chequing, everyday spending and business financial products.
During the first quarter of 2026, Wealthsimple recorded its strongest registered retirement savings plan (RRSP) season, with more account transfers than in any previous period.
In the second quarter, new chequing account openings exceeded new investment account openings for the first time, indicating increased use of its everyday banking services.
Wealthsimple has grown from an investing app into a platform many Canadians can now rely on for their everyday financial lives.
Yoonkee Sull, General Partner at ICONIQ
“We believe this shift reflects a team that designs its products with care and listens closely to its clients. We’re proud to continue our partnership with Michael and the team as they build what comes next.”
Wealthsimple expands investing, trading and business banking products
Wealthsimple intends to use the new capital to accelerate its product development plans across investing, trading, everyday spending, chequing and business financial services.
The company has introduced more than 50 products over the past year, expanding the range of financial transactions customers can manage through its platform.
Its investment offerings now include commission-free options trading, futures trading and IPO Access, which allows eligible Canadian investors to participate in selected initial public offerings at the offering price.
Wealthsimple has also introduced Kids and Teens accounts, alongside access to Quebec Education Savings Incentive (QESI) grants for families using its registered education savings plans (RESPs).
In everyday banking, customers can deposit cash at more than 5,300 Canada Post locations and access free cheque delivery and same-day bank draft delivery.
The company has added a Portfolio Line of Credit for individuals and businesses, allowing customers to borrow against their investment holdings.
Its business banking expansion includes a business chequing account and a prepaid Business Visa card offering 1% cash back.
These launches extend Wealthsimple’s services beyond portfolio management and investment transactions into borrowing, payments and day-to-day financial operations.
GIC leads new investment in Wealthsimple’s growth strategy
GIC’s decision to lead another financing round follows its participation as a co-lead investor in Wealthsimple’s C$750 mn funding announcement in October 2025.
The sovereign wealth fund cited the company’s customer relationships, product development and expansion into additional financial services as reasons for its continued investment.
Since co-leading last year’s round, our conviction in Wealthsimple’s ability to become Canada’s leading financial services platform has only grown.
Vinay Yarlagadda, Managing Director of the Technology Investment Group at GIC
“Through a customer obsessed approach, Wealthsimple has earned deep trust by building products people love and making their financial lives simpler. The team complements that customer focus with an uncommon pace of product innovation, qualities we see in exceptional companies globally,” said Vinay Yarlagadda.
The new primary investment will support Wealthsimple’s next phase of product expansion, while the secondary component provides employees with an opportunity to benefit financially from the company’s increased valuation.
With more than 4 mn customers, C$169.2 bn in assets under administration and an expanding range of personal and business financial products, Wealthsimple is pursuing its strategy of becoming a single platform for Canadians’ investing, banking and broader financial needs.
