Toronto-headquartered fintech Wealthsimple has raised CAD 750 million (about USD 538 million) in an equity funding round at a CAD 10 billion (about USD 7.2 billion) valuation. The investment round, including a CAD 550 million primary raise and up to CAD 200 million in secondaries, was co-led by Dragoneer Investment Group and GIC, with participation from ICONIQ, IGM Financial, Greylock, Meritech, and CPP Investments. Wealthsimple plans to use the funds to accelerate its product roadmap across investing, spending, and credit, while pursuing strategic opportunities to expand its platform.

Canada’s Wealthsimple Bags Around $538M in Fresh Funding at a $7.2B Valuation