1. Wealthsimple eyes acquisitions after US$610M funding round  BNN
  2. Drake, Ryan Reynolds among investors for Canadian-based Wealthsimple online trading app  Global News
  3. Wealthsimple announces landmark $750-million financing from investor group including Drake, Ryan Reynolds  The Globe and Mail
  4. Drake, Ryan Reynolds among latest Wealthsimple backers in $750 million funding round  Yahoo Canada Finance
  5. Wealthsimple raising $750 million in latest financing deal, valuation hits $5 billion  SaultOnline.com
  6. View Full coverage on Google News
Power Corp. of Canada’s Wealthsimple online brokerage, flush with cash after a funding round that valued it at about US$4 billion, may put some of that money to use making acquisitions as it works to expand its user base more than sevenfold.

Wealthsimple eyes acquisitions after US$610M funding round - BNN Bloomberg

www.theglobeandmail.com

TORONTO — A new financing deal involving plenty of star power and venture capital investors has pushed Wealthsimple's valuation to $5 billion and has its CEO anxious to build the brand even further. The Toronto-based financial services business announced Monday that it has raised $750 million from six celebrities and more than 15 venture capital investment firms including Meritech, Greylock, Dragoneer and iNovia.The star-studded list of investors includes rapper Drake, actors Ryan Reynolds and Michael J. Fox, NBA players Kelly Olynyk and Dwight Powell and NHL all-star Patrick Marleau."It's incredibly exciting and feels great, but I am notoriously a bad person at celebrating things, so I'm already thinking about what's next and where we have got to go," Wealthsimple co-founder and CEO Mike Katchen said hours after announcing the financing.He plans to use the new cash to expand Wealthsimple's market position, build out its offering of products and grow its team.Wealthsimple, which began as an online investment manager in 2014, has grown to add Wealthsimple Trade, a commission-free stock trading platform, and Wealthsimple Crypto, which allows users to buy, sell and hold cryptocurrency assets. It also launched Wealthsimple Cash, a peer-to-peer money transfer app, earlier this year and offers automated investing, saving and tax filing products."We are really trying to become the full-service financial partner, the primary financial relationship in our clients lives," Katchen said. "We've come a long way and we're offering a pretty big breadth of services to get there, but we have still got a long way to go to the services we offer."Part of that long way to go, he said, will include broadening Wealthsimple's suite of services again and exploring how its current offerings can provide even more value to customers.Katchen admitted that he has his eye on an initial public offering, too. He feels it's the best way to build a lasting brand, but said "it's just a question of timing.""We want to focus on executing our plan and many of those short-term questions that get introduced when you're going public can be a distraction," he said. "We're just not going to deal with that for the time being, but it is for sure in the plan still."For now, Katchen has big decisions to make around deploying his new war chest and a pandemic still to navigate.While many businesses have struggled during the crisis and had to turn to layoffs, closures and even bankruptcies, the pandemic boosted Wealthsimple.Katchen noticed people increasing the attention they paid to their finances and many were able to save larger-than-expected amounts of cash they wanted to invest or collect compounded interest on.He said it sparked "unprecedented" levels of activity in Wealthsimple's trading and cryptocurrency businesses."I never would have guessed that COVID would have this remarkable tailwind for the investment industry," Katchen said.To address those demands, the company scaled as much as it could, while also trying to educate consumers about financial tools.Education has long been a cornerstone for Wealthsimple, which has marketed itself as an easy-to-understand investment company operating a website peppered with explainers for investing newcomers.Katchen believes that ethos and branding helped Wealthsimple hook celebrity investors."When we were introduced to them to talk about this investment opportunity, they already had some affinity for the company," he said."I think they love seeing a Canadian company be successful, all of them are Canadian, and so there was just an easy conversation to bring them on board."It wasn't Wealthsimple's first time raising big bucks. The company snagged $114 million from TCV, Greylock and Meritech at a $1.5 billion post-money valuation last October.The last time Meritech and Greylock co-led a funding round was the Facebook Series B in 2006, Wealthsimple said."We invest in companies with the potential to revolutionize industries and become enduring market leaders," said Meritech's general partner Max Motschwiller, in a release."Wealthsimple has been able to capture a generation of financial consumers in Canada with financial products that are markedly different than anything offered by the incumbents — simpler, more human, and built with the kind of technology that delivers an experience consumers want."Meritech has also invested in Salesforce, Nextdoor, Zulily and Lime, while Greylock has backed Airbnb, LinkedIn, Coinbase and Discord. This report by The Canadian Press was first published May 3, 2021. Tara Deschamps, The Canadian PressTORONTO — A new financing deal involving plenty of star power and venture capital investors has pushed Wealthsimple's valuation to $5 billion and has its CEO anxious to build the brand even further. The Toronto-based financial services business announced Monday that it has raised $750 million from six celebrities and more than 15 venture capital investment firms including Meritech, Greylock, Dragoneer and iNovia.The star-studded list of investors includes rapper Drake, actors Ryan Reynolds and Michael J. Fox, NBA players Kelly Olynyk and Dwight Powell and NHL all-star Patrick Marleau."It's incredibly exciting and feels great, but I am notoriously a bad person at celebrating things, so I'm already thinking about what's next and where we have got to go," Wealthsimple co-founder and CEO Mike Katchen said hours after announcing the financing.He plans to use the new cash to expand Wealthsimple's market position, build out its offering of products and grow its team.Wealthsimple, which began as an online investment manager in 2014, has grown to add Wealthsimple Trade, a commission-free stock trading platform, and Wealthsimple Crypto, which allows users to buy, sell and hold cryptocurrency assets. It also launched Wealthsimple Cash, a peer-to-peer money transfer app, earlier this year and offers automated investing, saving and tax filing products."We are really trying to become the full-service financial partner, the primary financial relationship in our clients lives," Katchen said. "We've come a long way and we're offering a pretty big breadth of services to get there, but we have still got a long way to go to the services we offer."Part of that long way to go, he said, will include broadening Wealthsimple's suite of services again and exploring how its current offerings can provide even more value to customers.Katchen admitted that he has his eye on an initial public offering, too. He feels it's the best way to build a lasting brand, but said "it's just a question of timing.""We want to focus on executing our plan and many of those short-term questions that get introduced when you're going public can be a distraction," he said. "We're just not going to deal with that for the time being, but it is for sure in the plan still."For now, Katchen has big decisions to make around deploying his new war chest and a pandemic still to navigate.While many businesses have struggled during the crisis and had to turn to layoffs, closures and even bankruptcies, the pandemic boosted Wealthsimple.Katchen noticed people increasing the attention they paid to their finances and many were able to save larger-than-expected amounts of cash they wanted to invest or collect compounded interest on.He said it sparked "unprecedented" levels of activity in Wealthsimple's trading and cryptocurrency businesses."I never would have guessed that COVID would have this remarkable tailwind for the investment industry," Katchen said.To address those demands, the company scaled as much as it could, while also trying to educate consumers about financial tools.Education has long been a cornerstone for Wealthsimple, which has marketed itself as an easy-to-understand investment company operating a website peppered with explainers for investing newcomers.Katchen believes that ethos and branding helped Wealthsimple hook celebrity investors."When we were introduced to them to talk about this investment opportunity, they already had some affinity for the company," he said."I think they love seeing a Canadian company be successful, all of them are Canadian, and so there was just an easy conversation to bring them on board."It wasn't Wealthsimple's first time raising big bucks. The company snagged $114 million from TCV, Greylock and Meritech at a $1.5 billion post-money valuation last October.The last time Meritech and Greylock co-led a funding round was the Facebook Series B in 2006, Wealthsimple said."We invest in companies with the potential to revolutionize industries and become enduring market leaders," said Meritech's general partner Max Motschwiller, in a release."Wealthsimple has been able to capture a generation of financial consumers in Canada with financial products that are markedly different than anything offered by the incumbents — simpler, more human, and built with the kind of technology that delivers an experience consumers want."Meritech has also invested in Salesforce, Nextdoor, Zulily and Lime, while Greylock has backed Airbnb, LinkedIn, Coinbase and Discord. This report by The Canadian Press was first published May 3, 2021. Tara Deschamps, The Canadian Press

Drake, Ryan Reynolds among latest Wealthsimple backers in $750 million funding round

Bloomberg - Are you a robot?

Canadian fintech Wealthsimple has hit a C$5 billion valuation off the back of a C$750 million funding round led by Meritech and Greylock.Canadian fintech Wealthsimple has hit a C$5 billion valuation off the back of a C$750 million funding round led by Meritech and Greylock.

Wealthsimple raises C$750m

Wealthsimple has seen its client base double in the past year to more than two million, including its tax filing business, driven by its online stock-trading…

Wealthsimple Technologies Inc. raises $750 million | Financial Post

Wealthsimple Technologies Inc. raises $750 million, and adds some star-studded backers | Financial Post

The personal finance service Wealthsimple has gotten a big new round of funding, with some big Canadian names among the investors. On Monday, the Toronto-based company announced that they have raised $750 million in new funds from personal investors and venture capital, including investments from Drake and Ryan Reynolds. RELATED: Hugh Jackman Has ‘Deadpool 3’…The personal finance service Wealthsimple has gotten a big new round of funding, with some big Canadian names among the investors. On Monday, the Toronto-based company announced that they have raised $750 million in new funds from personal investors and venture capital, including investments from Drake and Ryan Reynolds. RELATED: Hugh Jackman Has ‘Deadpool 3’…

Drake And Ryan Reynolds Invest In Toronto-Based Wealthsimple | ETCanada.com

The personal finance service Wealthsimple has gotten a big new round of funding, with some big Canadian names among the investors. On Monday, the Toronto-based company announced that they have raised $750 million in new funds from personal investors and venture capital, including investments from Drake and Ryan Reynolds. RELATED: Hugh Jackman Has ‘Deadpool 3’…

Drake And Ryan Reynolds Invest In Toronto-Based Wealthsimple – Latest Entertainment News | Top Celebrity News, Hollywood Headlines

Wealthsimple raising $750 million in latest financing deal, valuation hits $5 billion | SaultOnline.com

Wealthsimple's new financing deal that includes several new venture capital investors as well as celebrities including Drake and Ryan Reynolds.Wealthsimple's new financing deal that includes several new venture capital investors as well as celebrities including Drake and Ryan Reynolds.

Wealthsimple raises $750 million — investors include Drake, Ryan Reynolds - National | Globalnews.ca

Wealthsimple has raised a $750 million CAD financing round as the FinTech company looks to expand its market position and continue to build out its product suite.Wealthsimple has raised a $750 million CAD financing round as the FinTech company looks to expand its market position and continue to build out its product suite.

Wealthsimple secures $750 million CAD, claims $5 billion valuation | BetaKit

Drake and Ryan Reynolds are among Wealthsimple's new $750 million investor group. The Canadian online investment service is now valued at $4 billion.Drake and Ryan Reynolds are among Wealthsimple's new $750 million investor group. The Canadian online investment service is now valued at $4 billion.

Drake and Ryan Reynolds among Wealthsimple's $750M investor group | Venture

Millennial focused money managing firm Wealthsimple has raised another $750 million, bringing its total value to $5 billion.Millennial focused money managing firm Wealthsimple has raised another $750 million, bringing its total value to $5 billion.

www.cbc.ca

Canadian fintech giant Wealthsimple has raised a new round of $750 million CAD (~$610 million) at a post-money valuation of $5 billion CAD (~$4 billion). The round was led by Meritech and Greylock, and includes funding from Inovia, Sagard and Redpoint, Two Sigma Ventures, TCV, as well as individual investors including Drake, Ryan Reynolds and […]Canadian fintech giant Wealthsimple has raised a new round of $750 million CAD (~$610 million) at a post-money valuation of $5 billion CAD (~$4 billion). The round was led by Meritech and Greylock, and includes funding from Inovia, Sagard and Redpoint, Two Sigma Ventures, TCV, as well as individual investors including Drake, Ryan Reynolds and […]

Wealthsimple raises $610M at a $4B valuation – TechCrunch

Wealthsimple raises $610M at a $4B valuation – TechCrunch

mobilesyrup.com

'In a family business, the timelines you’re working on are not the same as a fund…. We wanted to build a generational company in Wealthsimple, and they wanted…

For Desmarais scion, Wealthsimple financing a victory and validation of family's approach | Financial Post

For Desmarais scion, Wealthsimple financing a victory and validation of family's approach | Financial Post

A new financing deal involving plenty of star power and venture capital investors has pushed Wealthsimple's valuation to $5 billion and has its CEO anxious to build the brand even further.A new financing deal involving plenty of star power and venture capital investors has pushed Wealthsimple's valuation to $5 billion and has its CEO anxious to build the brand even further.

Drake, Ryan Reynolds among latest Wealthsimple backers in $750 million funding round - Business News - Castanet.net

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