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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 Greylock Partners, the Toronto-based company said Monday. Also participating are Canadian celebrities inclu...

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 Apple App Store and Google Play. “Ultimately, our goal is to offer a payment product that lets user...

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 Holdings Inc. Wealthsimple announced Thursday that it will transfer all its U.S.-based customers to Bette...

Betterment, a leading online financial services company, today announced that it has acquired Wealthsimple's 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 company with a strong reputation, as well as a company that emphasizes their customers' best intere...