Wealthsimple Raises $75mn as They Look Towards a Future IPO

Digital wealth management startup Wealthsimple raised $75mn from the digital investment arm of Germany’s Allianz, Allianz X, along with early investor Power Financial; the company has plans to go public some time in the next few years and they see this round as helping them to stay on that path; the startup is looking to replace banks and become the primary financial partner for clients according to their CEO Michael Katchen who spoke with CNBC; the company plans to use the capital for new product offerings and to grow further into their three markets in the U.S., UK and Canada. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.