TORONTO — Wealthsimple Inc. says it has raised $425 million in financing from its existing investors, which it says will help it expand its services and challenge incumbent lenders.
The company announced in a news release Tuesday that the equity round, which includes a $300 million primary offering and a $125 million secondary offering, will put its valuation at $13.8 billion.
The company says the secondary offering will give employees an opportunity to “share in the value they’ve helped create.”
GIC, the Singapore sovereign wealth fund, led the round of financing along with participation from Power Corp. of Canada, IGM Financial Inc., the Canada Pension Plan Investment Board and others.
Michael Katchen, Wealthsimple’s CEO and co-founder, says the group of investors know the business well, and the support will help it continue to innovate.
Wealthsimple says it plans to use the money to help grow its business, including personal banking as well as trading and investment products.
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Daniel Johnson, The Canadian Press
This report by The Canadian Press was first published Oct. 28, 2026.
