Wealthsimple

Wealthsimple is expanding beyond investing with banking services for households, children, and businesses. Announced at Wealthsimple Presents in Calgary, the rollout includes Wealthsimple Households, Kids and Teens Accounts, Authorized Traders, and Wealthsimple Business. The company said more than 315,000 people registered for the livestream, while 650 attended in person.

Business Chequing is available now, with additional products including a prepaid business card, U.S.-dollar accounts, and credit backed by corporate investments. Wealthsimple also launched Spend Insights to track transactions and identify opportunities. The move positions Wealthsimple as a broader financial platform.

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Wealthsimple has partnered with social media platform X to enable Canadian users to trade financial assets directly from “Smart Cashtags,” linking online discussions with execution. The feature allows users to tap ticker symbols within posts and be redirected to Wealthsimple’s platform to complete trades.

X has integrated real-time data, charts, and related content into cashtag pages, aiming to streamline the connection between market information and action. Wealthsimple said trading remains on its platform, with no user data shared with X. The rollout reflects a broader push toward integrating financial services into social platforms.

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Wealthsimple has received regulatory approval to offer limited prediction market trading in Canada, marking a significant development for the emerging sector. The Canadian Investment Regulatory Organization has authorized the Toronto fintech to introduce “forecast contracts” tied to economic indicators, financial markets, and climate trends.

Popular categories such as sports and elections remain prohibited. The move comes as global prediction market volumes surge, with billions traded annually. Legal experts say the approval could support broader adoption under regulated conditions. Wealthsimple has not confirmed launch timing, while regulators continue to monitor risks associated with the products.

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Toronto-based Wealthsimple has joined the global SWIFT financial messaging network, becoming the first Canadian fintech and only the second non-bank worldwide to gain direct access.

Used by more than 11,000 financial institutions, SWIFT enables trillions of dollars in cross-border payments annually. Wealthsimple says membership will allow clients to track international wire transfers in real time while improving speed and transparency. The company is completing final technical integration ahead of a full launch this spring and plans to adopt Canada’s upcoming Real-Time Rail payments system. Wealthsimple serves more than three million Canadians and manages over $100 billion in assets.

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Toronto fintech Wealthsimple has been named the 2026 CIX Innovator of the Year by Elevate and the National Angel Capital Organization, recognizing its impact on Canada’s financial services sector. CEO Mike Katchen will accept the award at the CIX Summit on March 25 in Toronto.

The company doubled assets under administration to more than $100 billion in 2025, added 650,000 clients and raised $750 million at a $10 billion valuation. It also launched 24/5 U.S. stock trading, margin accounts and a credit card, while acquiring Fey and Plenty. Past winners include Shopify and Clio.

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Wealthsimple chief executive Michael Katchen says 2025 marked a milestone year for the Toronto-based fintech, as assets under administration surpassed $100 billion, doubling in 12 months. In a year-end memo, Katchen said the firm added more than 650,000 clients, with users gaining $10 billion through market appreciation and earning $200 million via high-interest chequing accounts.

Wealthsimple expanded its platform with features including mobile cheque deposit, USD savings, international transfers, margin trading, options strategies, and self-directed RESPs. The company also raised nearly $1 billion at a $10 billion valuation while remaining profitable. In 2026, Wealthsimple plans to scale advice and broaden access to sophisticated investment opportunities.

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Toronto-based Wealthsimple has announced an equity raise of up to $750 million, valuing the company at $10 billion post-money. The round was co-led by Dragoneer Investment Group and Singapore’s GIC, with participation from CPPIB, Power Corp, IGM Financial, ICONIQ, Greylock, and Meritech.

CEO Michael Katchen said the funding reflects investor confidence in Wealthsimple’s mission to redefine financial services. Profitable since 2024, the fintech manages more than $100 billion in assets and continues to expand with zero-commission options trading, gold investing from $1, and an upcoming AI-powered dashboard.

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Wealthsimple unveiled a sweeping suite of products this week aimed at giving Canadians “every advantage possible to grow their wealth.” During Wealthsimple Presents: For Nerds Only in Toronto, the fintech announced true zero-commission options trading—the first of its kind in Canada—and new tools like direct indexing, real gold trading, and an expanded crypto lineup exceeding 100 assets.

The company plans to launch its most advanced “Summit” portfolio later this year and an AI-powered trading dashboard in 2025. With $100 billion in assets under management, Wealthsimple continues its mission to democratize complex investing for everyday Canadians.

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Wealthsimple has acquired Fey, a Montreal-based investing platform known for AI-driven tools and user-focused design. Founded in 2021, Fey offers earnings analysis, natural language stock screening, and personalized news feeds. These capabilities will be integrated into Wealthsimple’s platform, enhancing trading for millions of clients.

Company executives say the acquisition will balance accessibility with advanced functionality, meeting the needs of both novice and experienced investors. Fey co-founder Thiago Costa emphasized the shared vision of simplifying finance while retaining sophistication. The first Fey-powered features are expected to appear on Wealthsimple by year-end, strengthening Canada’s leading financial services platform.

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Wealthsimple’s assets under administration surged to $84 billion in Q2, up 94% year-over-year. The Toronto fintech grew its non-tax-filing client base by over 13% during the same period. Power Corp., which holds a 54.2% stake, increased its valuation of the company by 21% to $2.7 billion.

In June, Wealthsimple launched banking-style products, intensifying competition with both traditional banks and fintech rivals. About 5% of Canadian adults are now clients, according to Ipsos, compared to under 3% in 2021. The firm remains best known for its investing products.

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