Wealthsimple closed a CAD $750 million equity round in October 2025 at a CAD $10 billion post-money valuation. The round included CAD $550 million in primary capital and up to CAD $200 million in secondary transactions, co-led by Dragoneer Investment Group and GIC.

The company previously raised a CAD $750 million Series D in May 2021 at a CAD $5 billion valuation, co-led by Meritech Capital and Greylock Partners. Earlier funding included a Series C led by TCV and DST Global, with participation from Power Corporation of Canada through IGM Financial.

Investors across rounds include CPP Investments, ICONIQ Capital, Inovia Capital, and Allianz X. Wealthsimple has raised approximately CAD $2.2 billion in total funding since its founding.

Wealthsimple is a multi-product financial services app that consolidates six tools under one login for Canadian consumers.

The managed investing platform automatically constructs portfolios of low-cost ETFs based on a customer's risk tolerance and goals. The system handles daily rebalancing, dividend reinvestment, and tax-loss harvesting without user intervention. Premium customers with over CAD $500,000 get access to dedicated human advisors and customized portfolio construction.

The self-directed trading platform offers commission-free stock and ETF trades on Canadian and US markets with fractional share capabilities. A Plus subscription eliminates foreign exchange fees on US trades and provides true USD accounts. The platform offers 24/5 trading hours, margin accounts, and options trading with features like real-time margin health tracking.

Cryptocurrency services allow users to buy, sell, and stake over 140 digital assets directly within the same interface. The staking feature includes guided flows and network-specific unstaking timers.

Additional products include high-yield savings accounts paying up to 2.75% interest, tax preparation software, and newly launched credit cards with cash-back rewards. The mortgage product, delivered through a partnership with Pine, provides instant pre-approvals and rate rebates.

Wealthsimple runs a diversified financial services model with multiple revenue streams, creating cross-sell opportunities across its customer base.

Managed investing generates recurring revenue through asset-based management fees that scale with customer assets. Revenue increases as portfolios grow through market appreciation and new deposits.

Trading revenue includes subscription fees for premium features, payment for order flow on options trades, and margin lending. The company negotiates wholesale data and execution costs and charges retail customers via a credit-based pricing model.

Cryptocurrency operations generate revenue from trading spreads and staking rewards, with the platform acting as an intermediary rather than taking balance sheet risk on volatile assets.

An expanding suite of banking products increases share of wallet as customers consolidate more of their financial activity on the Wealthsimple platform. High-yield deposit accounts provide funding for credit products such as personal lines of credit and the upcoming credit card, generating net interest income.

The model benefits from economies of scale as fixed technology and compliance costs spread across a growing asset base. Customer acquisition costs are amortized across multiple product relationships as customers adopt additional products over time.

The launch of high-yield chequing accounts paying 2.75% interest with ATM fee reimbursements addresses the 80% of Canadians who maintain deposits with traditional banks at minimal rates. This product provides the deposit base needed to fund lending products and expand share of customer financial relationships.

The new credit card offering 1% cash-back with no annual fee and asset-backed lines of credit starting at 4.45% rates enters Canada's CAD $100 billion revolving credit market. These products generate interchange revenue and net interest income, increasing share of wallet among existing customers.

The partnership with Pine for digital mortgage services places Wealthsimple in Canada's CAD $500 billion residential mortgage market. Instant pre-approvals and rate rebates up to 0.15% target younger homebuyers who represent the core demographic for long-term wealth accumulation services.

House giveaway promotions and first-time buyer incentives function as acquisition programs and build relationships with customers at a crucial wealth-building life stage.

The acquisition of AI research platform Fey brings real-time earnings analysis, natural language stock screening, and personalized news feeds to attract active traders and sophisticated investors. These features enable premium subscription tiers and serve higher-engagement customer segments.

Extended trading hours, margin accounts, and options capabilities address day traders and frequent investors who generate higher revenue per customer through increased activity and premium feature adoption.

Regulatory tightening: Canadian financial regulators are tightening oversight of cryptocurrency trading and stablecoin operations, which may increase compliance costs and limit product innovation. New capital requirements or trading restrictions could require Wealthsimple to restructure its crypto offerings or exit certain digital asset markets.

Interest rate sensitivity: Wealthsimple's managed investing business relies on continued asset appreciation and net new deposits, both of which face pressure from higher interest rates that make fixed-income alternatives more attractive. A prolonged period of market volatility or declining asset values would pressure the company's largest revenue stream.

Competitive margin compression: The shift to commission-free trading across the industry has eliminated a key revenue source, pushing platforms to compete on premium features and ancillary services. As traditional banks and established brokerages match Wealthsimple's pricing while using larger balance sheets and existing customer relationships, maintaining differentiation becomes more difficult.