Wealthsimple Raises $75mn as They Look Towards a Future IPO

Digital wealth management startup Wealthsimple raised $75mn from the digital investment arm of Germany’s Allianz, Allianz X, along with early investor Power Financial; the company has plans to go public some time in the next few years and they see this round as helping them to stay on that path; the startup is looking to replace banks and become the primary financial partner for clients according to their CEO Michael Katchen who spoke with CNBC; the company plans to use the capital for new product offerings and to grow further into their three markets in the U.S., UK and Canada. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!