Wealthsimple

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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Toronto-based Wealthsimple, long positioned as a challenger to traditional banks, is addressing criticism of its minimalist interface with new “Enhanced Performance Insights.” The update, now available on mobile, introduces real-time metrics such as unrealized returns, time-weighted returns, and historical dividends.

Designed to offer a clearer financial picture, these insights aim to help users make informed decisions. Meanwhile, Wealthsimple is quietly developing a Visa Infinite card boasting 2% unlimited cash back. With a growing waitlist, the card signals the firm’s continued expansion into mainstream financial products.

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Wealthsimple has unveiled a suite of new financial products, including its first credit card, an instant line of credit, and expanded chequing account features, reinforcing its ambition to become Canada’s full-service digital banking alternative.

CEO Michael Katchen emphasized a shift away from traditional banking, citing client frustration with hidden fees and outdated experiences. The new card offers 2% cash back and no FX fees, while the line of credit—launching later this year—will offer low, asset-backed rates. Enhanced chequing features include 2.75% interest, 1% cash back, and fraud protection. Wealthsimple continues to build toward a future without bank branches.

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Wealthsimple has officially launched margin trading, allowing eligible clients to borrow funds against their portfolios for greater trading power. Vice President of Product Swapnil Parikh called it a highly requested feature, emphasizing a rigorous approval process and built-in risk management tools like a margin health tracker.

The Toronto-based fintech, led by CEO Michael Katchen, continues its mission to make sophisticated investing products more accessible. Wealthsimple, which is profitable and growing, will also roll out educational materials to ensure clients understand margin trading risks and rewards.

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