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Two firms in Canada face a lawsuit following allegations they charged millions of dollars in fees despite claiming they were commission-free.

According to industry watchers, Canada is about to face a difficult crisis in the tech sector. From layoffs to freezing job hires.

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 sees asset managers sold for two to five per cent of AUM. We apologize, but this video has failed to...

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 largest private technology investment in Canada. The celebrity-studded deal is the latest in a strin...

Published: May 5th, 2021 Wealthsimple snags $750 million in funding from venture funds and Canadian celebrities, Bill and Melinda Gates are calling it quits, and ad blockers are growing in popularity It’s all the tech news that’s popular right now. Welcome to Hashtag Trending! It’s Wednesday, May 5 and I’m your host Alex Coop.   Wealthsimple is making moves. Canadian rapper Drake and actor Ryan Reynolds are part of a landmark financing for fintech giant Wealthsimple Technologies Inc. The company has announced a $750-million deal backed by some of Silicon Valley’s leading venture f...