Canada's Wealthsimple Valued at $10 Billion
Wealthsimple Financial Corp. raised $750 million in the latest equity round, valuing the financial services firm at $10 billion.
The capital raise, announced Monday, is co-led by Dragoneer Investment Group and GIC in Singapore, and includes a $550 million primary offering and a $200 million secondary offering.
- Canada Pension Plan Investment Board is investing in Wealthsimple for the first time.
- Existing investors, including IGM Financial Inc., ICONIQ, Greylock, Meritech, and Power Corp., also participated in the round.
Wealthsimple is now one of Canada's most valuable startups.
Author's summary: Wealthsimple valued at $10 billion after equity round.