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 Holdings Inc.
Wealthsimple announced Thursday that it will transfer all its U.S.-based customers to Betterment by the end of June and will no longer support U.S.-based accounts.
FinLab AG: FinLab holding nextmarkets receives $30 million in Series B funding round
DGAP-Media / 04.03.2021 / 09:00
The financing round is led by existing investors Alan Howard and Christian Angermayer with his Cryptology Asset Group. German investors such as DEWB are also among the investors.
Since going live in 2018, the innovative FinTech company from Cologne has grown at an average rate of 207% (CAGR), executing well over one million securities transactions in 2020.
The neobroker, which enables private investors commission-free trading via the stock exchange in over 7,000 stocks and 1,000 ETFs, is now active in eight European countries.
With the additional capital, nextmarkets will drive its expansion in Europe and further develop its product offering.