Wealthsimple announces C$750M investment round
On May 3, 2021, Wealthsimple, announced it has signed a C$750 million financing round at a post-money valuation of C$5 billion; the round was led by Meritech Capital Partners (Meritech) and Greylock Partners. Other investors participating in the round include DST Global, Sagard, Iconiq, Dragoneer, TCV, iNovia, Allianz X, Base 10, Redpoint, STEADFAST, Alkeon, TSV, Plus Capital and others, plus celebrities Drake, Michael J. Fox, Ryan Reynolds, Kelly Olynyk, Dwight Powell, and Patrick Marleau. Wealthsimple will use new capital to expand market position, build out product suite, and grow its team.
Wealthsimple, is a Canadian financial services provider that offers a suite of online investment services and other financial products through several affiliates.
Meritech, headquartered in Palo Alto, California, is a growth-stage venture capital firm that focuses on investing in information technology companies. Meritech has partnerships with 200 companies globally.
McCarthy Tétrault advised Meritech, as Canadian counsel, with a team led by Véronique Wattiez Larose that included Laure Fouin (Private Equity) and Fred Purkey (Tax).
