Toronto-Based Wealthsimple Secures 610 Million Greylock TheringTonTechCrunch
Wealthsimple, a Toronto-based financial services company, has recently secured 610 million USD in a funding round led by Greylock and e.ventures. This funding was reported by TechCrunch and is the largest amount ever raised by a Canadian fintech firm. This funding is a testament to the success of Wealthsimple’s mission to make investing accessible to everyone, regardless of financial status. This article will explore the background of Wealthsimple, the details of the funding, and what this means for Toronto’s technology industry.
Background of Wealthsimple
Toronto-Based Wealthsimple Secures 610 Million Greylock TheringTonTechCrunch financial services company that was founded in 2014 with the mission of making investing accessible to everyone. Its services include automated investing, saving, and trading technology. Wealthsimple has grown to become Canada’s largest online investment manager, with over 1 million customers across Canada, the United States, and the United Kingdom. The company has raised over $400 million in funding and has a valuation of $1.7 billion.
Details of the Funding Round
The recent funding round was led by Greylock, a venture capital firm based in California, and e.ventures, a global venture capital firm. Other investors included Allianz X, IAC, and Gaingels. The total amount raised was 610 million USD, which is the largest amount ever raised by a Canadian fintech firm. This funding will be used to continue to expand Wealthsimple’s services and grow its customer base.
Impact of the Funding on Toronto’s Technology Industry
The successful funding round of Wealthsimple is a major milestone for Toronto’s technology industry. It demonstrates the strength of the local tech sector and the potential of Toronto-based startups. It also serves as an inspiration for other startups in the city, as it shows that it is possible to receive significant amounts of funding from world-renowned venture capital firms. This influx of capital will also help to create more jobs in the city and boost the local economy.
Toronto-Based Wealthsimple Secures 610 Million Greylock TheringTonTechCrunch recent funding round is a major milestone for the Toronto-based financial services company and the Toronto tech sector as a whole. The 610 million USD raised is the largest ever secured by a Canadian fintech firm, and is a testament to the strength of Wealthsimple’s mission. This funding will help to drive growth and create more jobs in the city, making it an exciting time for Toronto’s technology industry.