Wealthsimple company logo

The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

wealthsimple.com

Founded Year

2014

Stage

Unattributed VC - II | Alive

Total Raised

$712.38M

Valuation

$0000 

Last Raised

$610M | 1 yr ago

Revenue

$0000 

About Wealthsimple

Wealthsimple is a technology-driven investment manager that combines a robo-advisor platform with access to live advisors.

Wealthsimple Headquarter Location

860 Richmond St W 3rd Floor

Toronto, Ontario, M6J 1C9,

Canada

877-222-7473

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Wealthsimple

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Wealthsimple is included in 3 Expert Collections, including Wealth Tech.

W

Wealth Tech

1,763 items

A category of financial technology that is digitizing & streamlining the delivery of wealth management. Included: Startups that offer technology-enabled tools for active and passive wealth management for retail investors and advisors.

F

Fintech 250

498 items

F

Fintech

3,389 items

Excludes US-based companies

Wealthsimple Patents

Wealthsimple has filed 3 patents.

The 3 most popular patent topics include:

  • Models of computation
  • Parallel computing
  • Production and manufacturing
patents chart

Application Date

Grant Date

Title

Related Topics

Status

11/4/2019

4/6/2021

Parallel computing, Project management, Production and manufacturing, Systems engineering, Models of computation

Grant

Application Date

11/4/2019

Grant Date

4/6/2021

Title

Related Topics

Parallel computing, Project management, Production and manufacturing, Systems engineering, Models of computation

Status

Grant

Latest Wealthsimple News

Canadian wealthtech Wealthsimple sheds 12.6% of workforce due to market volatility

Jun 20, 2022

20th June 2022 Canadian digital wealth manager Wealthsimple is to shed 159 employees – 12.6% of its workforce – due to “changes in market conditions”. Wealthsimple sheds 12.6% of its workforce Wealthsimple CEO and co-founder Mike Katchen made the announcement to employees at an “all-hands meeting”, before sharing the news publicly. “Of the 1,262 people who work for Wealthsimple today, 159 will be leaving the company.” Katchen says that the pandemic was a time of “immense volatility”. Markets crashed, then soared, Katchen says, and “our business grew at an unprecedented rate”. In May last year, the Toronto-founded wealth management platform landed a $610 million (CAD 750 million) round of funding, valuing the firm at $4 billion . “Of course, volatility works both ways, and we’re seeing the other side of it now as the pandemic market conditions unwind,” Katchen adds. The ensuing market uncertainty means Wealthsimple must continue to make its clients its “first priority” and “concentrate our resources on what’s most important in today’s environment,” Katchen says. As well as the layoffs the wealthtech will be “laser-focused” on its core businesses, such as investing, banking and crypto, and will reduce investment in areas such as peer-to-peer (P2P) payments, tax and merchant services. Wealthsimple CEO Mike Katchen Teams that are no longer as essential to the business in the “new normal” – recruitment and marketing, for example – will be “restructured”, Katchen says. To help soften the blow, the company says it will be offering severance packages, extended health coverage and recruitment programmes. Wealthsimple has been in talks with IGM and Canada Life, two of the firm’s leading investors, “and they’ve guaranteed interviews to anyone interested in working at those companies,” Katchen says. Katchen signs off: “I’d like to express that we owe a debt of gratitude to all those who are leaving. Thank you for helping to make Wealthsimple a great place to work and for helping make a difference in the lives of millions of Canadians.” In December, the Canadian wealthtech pulled out of the UK market after four and a half years, and shifted its focus back to Canada. The layoffs at Wealthsimple represent a broader shift in fintech as market volatility reigns and recession looms. Buy now, pay later (BNPL) giant Klarna announced in May it is to let go of approximately 10% of its global workforce due to ongoing challenging global economic conditions. Klarna CEO Sebastian Siemiatkowski outlined in a statement to employees how the war in Ukraine, inflation, a volatile stock market, shifts in consumer sentiment and a likely recession, “have marked the beginning of a very tumultuous year” .

Wealthsimple Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Wealthsimple Rank

  • When was Wealthsimple founded?

    Wealthsimple was founded in 2014.

  • Where is Wealthsimple's headquarters?

    Wealthsimple's headquarters is located at 860 Richmond St W, Toronto.

  • What is Wealthsimple's latest funding round?

    Wealthsimple's latest funding round is Unattributed VC - II.

  • How much did Wealthsimple raise?

    Wealthsimple raised a total of $712.38M.

  • Who are the investors of Wealthsimple?

    Investors of Wealthsimple include Two Sigma Ventures, Meritech Capital Partners, Technology Crossover Ventures, Greylock Partners, Inovia Capital and 18 more.

  • Who are Wealthsimple's competitors?

    Competitors of Wealthsimple include Robinhood, Neo Financial, Wealthfront, Betterment, Alpaca.markets and 12 more.

You May Also Like

Betterment Logo
Betterment

Betterment is a goal-based online investment company that delivers personalized financial advice paired with low fees and customer experience. Through its platform, Betterment's seeks to eliminate the typical complexities and time commitment of the traditional investment account. Behavioral guardrails built into the account help users make savvy, rational decisions with their finances.

Human Interest Logo
Human Interest

Human Interest offers an easy and affordable 401(k) retirement plan for the modern workforce. The company empowers all businesses, no matter their size, to safeguard the financial futures of their employees.

SigFig Logo
SigFig

SigFig, provided by Nvest and SigFig Wealth Mangement, is an online service that makes it easy for users to manage and improve investments. The platform offers actionable advice, insightful charts and graphs, real-time portfolio tracking, an overview dashboard, and smartphone apps.

W
Wacai

Wacai is a Chinese FinTech company that has developed an all-in-one online personal financial management platform that provides users with wealth management services and credit solutions through an extensive portfolio of mobile apps to meet their evolving lifelong personal financial service needs.

F
ForUsAll

ForUsAll is an independent 401(k) advisor specializing in low cost 401(k) plans for small and mid-sized businesses. The company seeks to craft a low-cost retirement plan by finding clients the right fund lineup and recordkeeper.

Blooom Logo
Blooom

Blooom develops an online tool that assesses a consumer's 401(k) and provides ongoing professional management. The company is a Registered Investment Advisory firm.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.