Wealthsimple raises $425M at a $13.8B valuation to fuel growth
“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,” said Michael Katchen, CEO and co-founder of Wealthsimple, in Toronto.
“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.”
Leaving the banks behind
As of September 30, Wealthsimple held CAD $169.2 billion in assets under administration, up 69% from CAD $100 billion at the time of its October 2025 fundraise.
The company now serves more than 4 million Canadians, including one in four aged 18 to 40.
In Q2 2026, new chequing account openings outpaced new investment accounts for the first time in the company’s history.
