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Wealthsimple Raises Money at $4 Billion Value; Drake Buys In Canadian actors Ryan Reynolds, Michael J. Fox and basketball player Kelly Olynyk also participated in the funding round. Kevin Orland | May 03, 2021 (Bloomberg) -- Power Corp. of Canada’s Wealthsimple online brokerage raised C$750 million ($610 million) in a funding round that valued it about $4 billion, more than triple what it was worth in October. The round was led by existing investors Meritech Capital Partners and Greyloc...

Toronto-based FinTech startup Wealthsimple has launched its new consumer payment app, Wealthsimple Cash, for users across Canada. Similar to Venmo, Wealthsimple Cash is currently a peer-to-peer payment app that allows users to send, receive, and request cash instantly. First announced in January 2020, Wealthsimple began rolling out the first feature of its new Cash product in beta to select employees and clients last November. As of today, the app is now available to all Canadian users in the A...

Wealthsimple will transfer all of their existing U.S.-based customers to Betterment, and will no longer support accounts based in the U.S.

Wealthsimple selling U.S. book of business to robo-adviser Betterment Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file ... This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer Eric Akaoka/The Globe and Mail Power Financial Corp.’s online investment manager Wealthsimple is selling its U.S book of business to New York-based robo-adviser Betterment Holdi...

Betterment, a leading online financial services company, today announced that it has acquired Wealthsimples U.S. book of business. In the coming months, Wealthsimple will transfer all of their existing U.S.-based customers to Betterment, and will no longer support accounts based in the U.S. Betterment, well known for being the first automated investing services to enter the market, was chosen in a competitive process as the partner for this acquisition. Wealthsimple sought out an established ...

Betterment Digital wealth manager Betterment is buying Canadian rival Wealthsimples US book of business. Betterment, which manages some $28 billion in assets, will absorb around $190 million in assets. CEO Sarah Levy told Insider that Betterment, which launched in 2010, is on a path to an IPO. Betterment is set to acquire Canadian competitor Wealthsimples US-based customer accounts in a deal that will add some $190 million in assets and 17,000 customers to the ...

All accounts will be transferred by June 2021

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5 Min Read TORONTO (Reuters) - Stock brokers in Canada cannot use marketmakers to execute trades for a fee, under a government rule that has restricted the growth of zero-commission trading platforms like Robinhood, whose booming business in United States was linked to wild swings in GameStop Corp and other “Reddit rally” stocks. FILE PHOTO: Trading information for GameStop is displayed on the Robinhood App in this photo illustration January 29, 2021. REUTERS/Brendan McDermid/Illustration U...

If you’ve spent any time on social media this week, you’ve probably heard about GameStop and stocks. What you may not know is that the frenzy boosted popularity in a Canadian stock trading app as well. As a short explanation, the internet has stirred itself into a frenzy over GameStop, a U.S.-based video game retailer (EB Games is the company’s Canadian division). Essentially, a Reddit community called ‘Wall Street Bets’ (WSB) struck out at hedge funds that shorted the GameStop stock,...