Wealthsimple

Wealthsimple

Financial technology for investing and taxes

About Wealthsimple

Simplify's Rating
Why Wealthsimple is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Differentiation

Industries

Fintech

Financial Services

Company Size

1,001-5,000

Company Stage

Late Stage VC

Total Funding

$849.7M

Headquarters

Toronto, Canada

Founded

2014

Overview

Wealthsimple provides a range of financial tools that help individuals manage their money effectively. Their services include automated investing, where users can set up investment accounts that automatically adjust based on market conditions, and commission-free stock trading, allowing users to buy and sell stocks without paying fees. They also offer options for investing in cryptocurrency and provide tax filing services that are designed to be quick and easy. Wealthsimple targets young professionals and tech-savvy individuals, distinguishing itself from competitors by focusing on a user-friendly digital platform that simplifies financial management. The company's goal is to make financial services accessible to everyone, using technology to create a more personal and straightforward approach to managing finances.

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Simplify's Take

What believers are saying

  • Wealthsimple's acquisition of Plenty enhances its wealth management capabilities.
  • The launch of a credit card and expanded chequing account diversifies its product offerings.
  • AI-driven financial advisory services can personalize investment strategies for users.

What critics are saying

  • Increased competition from fintech companies like Robinhood could impact market share.
  • Regulatory scrutiny on cryptocurrency investments may increase compliance costs.
  • Economic downturns could reduce investor confidence and assets under management.

What makes Wealthsimple unique

  • Wealthsimple offers a comprehensive suite of financial tools for diverse user needs.
  • The company targets young, tech-savvy professionals with a user-friendly digital platform.
  • Wealthsimple integrates ESG investing, appealing to environmentally conscious investors.

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Funding

Total Funding

$849.7M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Benefits

Health Insurance

Life Insurance

401(k) Company Match

401(k) Retirement Plan

Paid Vacation

Unlimited Paid Time Off

Professional Development Budget

Wellness Program

Remote Work Options

Paid Holidays

Growth & Insights and Company News

Headcount

6 month growth

↑ 3%

1 year growth

↑ 0%

2 year growth

↓ -1%
BetaKit
Jun 11th, 2025
Wealthsimple Reveals First Credit Card, Expanded Chequing Account At Inaugural Product Showcase

Toronto FinTech firm pitches “an alternative that is better than a bank” at first Wealthsimple Presents

PR Newswire
May 8th, 2025
Leading Canadian Financial Services Platform Wealthsimple Taps Eventus For Compliance Solution

Deploys Validus platform for support across asset classes to enhance account supervision, help meet regulatory responsibilitiesAUSTIN, Texas, May 8, 2025 /PRNewswire/ -- Eventus, a leading provider of comprehensive, at-scale trade surveillance and financial risk solutions, announced that Wealthsimple is among its newest clients deploying the firm's Validus platform for trade surveillance across asset classes. Wealthsimple is one of Canada's fastest growing financial services platforms, serving more than three million clients, with $50+ billion in assets across trading, saving and investing.Lia Mathiesen, Senior Director, Compliance and Chief Compliance Officer at Wealthsimple, said: "We have a diversified business model in Canada, so we needed a compliance solution that could support our various business lines and handle a range of asset classes. It also had to be flexible enough to meet our data and operational needs. Working with Eventus allows us to enhance our account supervision and support our compliance efforts."Eventus CEO Travis Schwab said: "Eventus supports many of the world's largest retail-focused financial services platforms. As one of Canada's leading platforms for retail investors, Wealthsimple has been extraordinarily successful at thinking outside the box and providing innovative solutions to its clients. We're delighted to work with Lia and the Wealthsimple team to help meet the company's regulatory needs, and as we build further on our client base in Canada and globally."In recent months, Eventus has signed new clients for trade surveillance, algo monitoring and market risk management across the Americas, as well as Europe, the Middle East and Africa and the Asia-Pacific region

Wealthsimple
Apr 9th, 2025
Wealthsimple acquires wealth management platform, Plenty

Toronto, ON (April 9, 2025) – Wealthsimple, the financial services platform on a mission to help Canadians achieve financial freedom, today...

BetaKit
Feb 6th, 2025
Wealthsimple Launches Margin Trading Feature For Eligible Users

FinTech company provides resources to help users navigate risks associated with margin investing

BetaKit
Nov 14th, 2024
Power Marks Up Value Of Stake In Wealthsimple Beyond 2021 Peak

Hike to $2.2 billion reflects rise in public markets, Wealthsimple’s performance, and an upcoming secondary deal

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