Wealthsimple

Wealthsimple is using a national print campaign to make Canadian banking fees more visible, offering a line-by-line tally of monthly charges, transaction limits, foreign-exchange markups, ATM fees, overdraft costs, investment fees, and transfer penalties.

In a Fintech.ca interview, Chief Marketing and Commercial Officer Paul Teshima said the goal is to show how small, recurring costs can erode savings and pressure competitors toward clearer pricing. The campaign lands as Wealthsimple pushes deeper into everyday finance, with $17 billion in second-quarter net flows and chequing account openings surpassing investing accounts for the first time, reinforcing its challenge to large traditional Canadian banks.

Want to know more? Check out the source code on Fintech.ca.

Wealthsimple reported $17 billion in net flows in the second quarter, its largest quarter ever, as assets under administration nearly doubled year over year. The Toronto fintech says growth was driven by demand for chequing and spending products, not only investing.

The update follows a product push into household finance, business chequing, kids and teens accounts, authorized trading, spending insights, and monthly rewards. Wealthsimple ended the first quarter with $124.8 billion in assets and 3.4 million clients, including one in five Canadians aged 18 to 40 using at least one product, according to the company nationally.

Want to know more? Check out the source code here.

Wealthsimple is launching Predict, a standalone app that will give Canadian retail investors regulated access to event-contract trading, also known as prediction markets. The app, now in beta, is expected this summer after the Canadian Investment Regulatory Organization authorized Wealthsimple in March to offer forecast contracts.

At launch, Predict will provide access to about 4,000 contracts from U.S. exchange Kalshi, limited to approved categories such as economic indicators, financial markets, and climate-related events. Wealthsimple says the app will include education, disclosures, risk reminders, liquidity warnings, and guardrails, reflecting caution as Canadians gain exposure to this fast-growing market segment.

Want to know more? Check out the source code on Fintech.ca.

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.

Want to know more? Check out the source code on Fintech.ca.

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.

Want to know more? Check out the source code on Fintech.ca.

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.

Want to know more? Check out the source code on The Logic.

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.

Want to know more? Check out the source code on Fintech.ca.

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.

Want to know more? Check out the source code here.

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.

Want to know more? Check out the source code on Fintech.ca.

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.

Want to know more? Check out the source code on Fintech.ca.