Wealthsimple secures $425M as Power group doubles down on fintech
IGM Financial, the Winnipeg-based wealth and asset management company, is investing $96 million as part of the deal. As a result, IGM will increase the book value of its Wealthsimple stake by $341 million – a 13 per cent uplift – from $2.59 billion to $2.93 billion.
Following the close of the transaction, which is expected in the fourth quarter of 2026, IGM will hold a 25.1 per cent interest valued at approximately $3.03 billion, or $13.20 per IGM share. IGM will remain Wealthsimple’s single largest shareholder.
Power Corporation, the Montréal-based international holding company, is separately committing $68 million through its subsidiary Power Financial Corporation, through which it subscribes for Class F Preferred Shares.
Power Corporation’s direct equity interest in Wealthsimple is now valued at $2.0 billion based on the offering price – an increase of 13 per cent compared to the second quarter of 2026 – rising to $2.1 billion after the additional investment is factored in.
What the investment says about Wealthsimple’s trajectory
Wealthsimple, headquartered in Toronto and founded in 2014, serves more than four million Canadians across chequing and spending, managed investing, self-directed trading, and tax filing.
