Wealthsimple valued at C$13.8 billion in new funding round

Canadian financial services platform Wealthsimple has agreed to an equity financing of up to C$425 million at a C$13.8 billion post-money valuation, led by GIC .

Existing investors Power Corporation of Canada, IGM Financial, ICONIQ, CPP Investments and Inovia are also participating. The round includes C$300 million in primary capital and up to C$125 million in secondary share sales, giving employees an opportunity to sell shares.

The Toronto-based financial services company plans to use the new capital to expand its business banking, spending, chequing, trading and investment products, alongside investments in technology infrastructure.

The financing follows Wealthsimple’s C$750 million raise at a C$10 billion valuation in October 2025.

As of September 30, Wealthsimple reported C$169.2 billion in assets under administration, up from C$100 billion at the time of its previous raise. The company serves more than 4 million Canadians and over 30,000 businesses, and describes its business as profitable.

New chequing account openings at Wealthsimple exceeded new investment account openings for the first time in the second quarter of 2026. Over the past year, the company has launched more than 50 products, including commission-free options trading, futures trading, youth accounts, a portfolio line of credit and business chequing.

The company plans to announce additional products at its November 5 Wealthsimple Presents event.