Wealthsimple raises $425 million from GIC, Canadian investors

Skip to Content News Archives Economy Defence Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Defence Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Defence Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeFinanceFintechWealthsimple raises $425 million from GIC, Canadian investors'Our conviction in Wealthsimple’s ability to become Canada’s leading financial services platform has only grown'Last updated 4 minutes ago Wealthsimple said the company's core investing business has kept growing since announcing a $750 million fundraise at a $10 billion valuation in October last year. Photo by Pavlo Gonchar/SOPA Images/LightRocket via Getty ImagesWealthsimple has raised $425 million in an investment led by the Singaporean sovereign wealth fund GIC Private Ltd. at a $13.8 billion post-money valuation.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe company said the new capital will fund its next phase of growth, including product expansion and investment in technology infrastructure.The round includes both a $300 million primary offering and a secondary of up to $125 million. It said the secondary offering “gives employees the opportunity to share in the value they’ve helped create.”This advertisement has not loaded yet, but your article continues below.Along with GIC, existing investors Power Corporation of Canada, IGM Financial Inc., ICONIQ, Canada Pension Plan Investment Board (CPP Investments) and Inovia, also participated in the equity round.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try again“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 Wealthsimple chief executive Michael Katchen.The company said it plans to accelerate its product roadmap, which includes expanding its business, everyday spending and chequing, trading and investment products.Wealthsimple said the company’s core investing business has kept growing since announcing a $750 million fundraise at a $10 billion valuation in October last year.“Since co-leading last year’s round, our conviction in Wealthsimple’s ability to become Canada’s leading financial services platform has only grown,” said Vinay Yarlagadda, managing director of the technology investment group at GIC.It had its best-ever RRSP season in Q1 2026, with the most account transfers in its history, it said. In Q2 2026, new chequing account openings outpaced new investment accounts for the first time.In the past year, Wealthsimple, used by more than four million Canadians, has launched more than 50 new products, including commission-free options trading, futures trading and IPO Access, kids and teens accounts, a portfolio line of credit for individuals and businesses, among others.It said more releases will be announced on Nov. 5.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.