Online investment management service Wealthsimple secured $74.6m in an Allianz X-led round that also featured long-standing investor Power Financial.
Allianz X, the digital investment unit owned byinsurance firm Allianz, led a C$100m ($74.6m) funding round for Canada-based wealth management platform Wealthsimple on Wednesday that included financial services provider Power Financial.
Founded in 2014, Wealthsimple has developed an online investment platform that automatically generates a diversified portfolio based on a user’s chosen risk profile. It does not have a minimum investment size and charges between 0.5% and 0.7% in fees.
Wealthsimple offers three distinct packages, depending on how much money…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
