Page 2 - Mike Katchen News Today

Article content The news this week that Wealthsimple Technologies Inc. was raising $750 million in a funding round that valued the financial upstart at $5 billion — up from $1.4 billion in October — sent jaws dropping in Canada’s wealth management industry. What made the valuation particularly shocking is that Wealthsimple currently has about $9.7 billion in assets under management, meaning the deal valued the firm at 52 per cent of AUM, an unheard-of figure in an industry that typically ...

Article content Investment from some of the most famous celebrities has been flowing into Canada’s startups, with entrepreneurs eager to add the allure of the rich and famous to their roster of investors. Some of Canada’s most famous celebrities and athletes — Toronto rapper Drake, Vancouver-born actor Ryan Reynolds and NBA Houston Rockets player Kelly Olynyk — backed online Canadian bank challenger Wealthsimple Technologies Inc.’s funding round on Monday, which is believed to be the ...

The Toronto-based company has more than tripled the $1.2 billion valuation it received in October 2020. Drake isn’t the only celebrity investor in Wealthsimple, as actors Ryan Reynolds, Michael J. Fox and NBA player Dwight Powell have poured money into the operation. Wealthsimple brands itself as an “investment manager and trading app,” but has significantly expanded its business expertise to other avenues as the company continued to grow in recent years. Market Insider says they’ve add...

Online Brokerage Backed by Drake Reportedly Valued at $4 Billion VladTV 3,092 views   •  comments According to reports, a Toronto-based online brokerage company backed by Drake is valued at $4 billion.  The company, Wealthsimple, received roughly $610 million during its last round of funding. However, Drake isnt the only famous Canadian investing in the company. Some of the other investors include actors Michael J. Fox, and Ryan Reynolds, in addition to former pro-baseball player Dwight P...

Online Brokerage Company Backed By Drake Valued At $4 Billion May 5, 2021 Wealthsimple, the company that has other famous Canadian investors including Michael J. Fox and former pro-baseball player Dwight Powell, received over $600 million during its last funding season. According to the report, the app for the company will be the Canadian version of Robinhood. “More than two million Canadians use Wealthsimple to grow their money, file their taxes, pay their friends, and make their financial l...

Toronto-based Wealthsimple, an online brokerage backed by rapper Drake, raises money at a $4 billion valuation after a strong year of retail trading snagarajan@businessinsider.com (Shalini Nagarajan) A Drake-backed Canadian brokerage is valued at $4 billion in its latest fundraising round. Celebrities Ryan Reynolds and Michael J. Fox are other stakeholders in the firm. Wealthsimple counts 2 million users and holds $8.4 billion in assets under management. Wealthsimple, an online ...

Wealthsimple says it has raised $750 million from more than 15 private investors and investment firms. Besides Drake, Reynolds, Meritech, and Greylock, the group also includes Dragoneer, iNovia, Michael J. Fox, NBA players Kelly Olynyk and Dwight Powell, and NHLer Patrick Marleau. We just raised one of the biggest investments in Canadian history. We’re going to use it to revolutionize the way we do money. Oh, and did we mention @Drake chipped in? Mike Katchen, the co-founder and CEO of Wealt...

Winnipeg Free Press By: Tara Deschamps, The Canadian Press Posted: Last Modified: 1:48 PM CDT Monday, May. 3, 2021 Save to Read Later TORONTO - A new financing deal involving plenty of star power and venture capital investors has pushed Wealthsimples valuation to $5 billion and has its CEO anxious to build the brand even further. A Wealthsimple Trade app icon is shown on a smartphone ...

Wealthsimple raises money at $5B value; Drake buys in Kevin Orland, Bloomberg News VIDEO SIGN OUT Power Corp. of Canada’s Wealthsimple online brokerage raised $750 million (US$610 million) in a funding round that valued it about $5 billion (US$4 billion), more than triple what it was worth in October. The round was led by existing investors Meritech Capital Partners and Greylock Partners, the Toronto-based company said Monday. Also participating are Canadian celebrities including r...

Wealthsimple raises $750 million, valuation reaches $5 billion Ryan Reynolds, Drake and Michael J. Fox and more are investing in the company Wealthsimple has announced that it raised $750 million in a financing deal, which has brought its total value to $5 billion. The Toronto-based company says the new financing deal includes several new capital investors and Canadian celebrities including Ryan Reynolds, Drake and Michael J. Fox. “The financial services industry is in the midst...