CPP Investments joins existing investors in backing firm's plan for growth
Wealthsimple has closed a CAD $750 million equity financing round at a post-money valuation of CAD $10 billion, underscoring institutional investor confidence in the company's role as a market leader in Canadian wealthtech.
Notably, CPP Investments joins Dragoneer Investment Group and GIC in raising the new funding, along with existing investors Power Corporation of Canada, IGM Financial Inc., ICONIQ, Greylock and Meritech.
"Wealthsimple has built a strong foundation as a trusted financial platform in Canada, combining innovation with disciplined growth," said Afsaneh Lebel, managing director and head of funds at CPP Investments. "Alongside our partner Dragoneer, we've seen the company's innovative approach to making financial products more accessible to Canadians, consistent with our strategy to back technology-driven businesses that deliver lasting value for CPP contributors and beneficiaries."
The raise includes $550 million in primary capital and a secondary component of up to $200 million. The proceeds will support Wealthsimple’s product expansion across investing, payments, and credit, while positioning the firm for long-term platform growth and selective M&A.
According to the release, the firm reached profitability in 2024 and has maintained that trajectory into 2025, doubling its assets under administration (AUA) over the past year - from $50 billion to $100 billion. The fresh capital will be used to accelerate development across its investing, spending, and credit offerings, while also supporting strategic initiatives to expand and deepen the platform’s capabilities.
"This raise reflects deep confidence from new and returning investors in our mission and our role as a defining Canadian company," said Michael Katchen, CEO and co-founder of Wealthsimple. "We were intentional in choosing partners committed to the long-term future of Wealthsimple. These are well-respected, global leaders with a proven track record scaling category leaders, and who believe in our vision for the future of financial services."
The current equity round marks a follow-on to Wealthsimple’s 2021 raise, which was among the largest in Canadian tech history. Dragoneer, which is focused on investing in leading growth businesses, recently led OpenAI's $8.3 billion raise in August 2025 as its largest contributor. The firm previously participated in Wealthsimple's 2021 funding raise.
"We look for companies that will transform industries for decades to come, and Wealthsimple is one of them," said Choo Yong Cheen, chief investment officer of private equity at GIC. "Their track record of innovation, from investing to trading to spending, combined with deep trust from Canadians, positions them to build a defining, generational company in Canadian financial services."
