Power Financial has doubled its investment in WealthSimple, providing series B funding that will fund the latter's North American growth.
Canada-based online wealth manager WealthSimple has secured C$50m ($37m) in series B funding from financial services firm Power Financial, bringing the latter’s total investment in WealthSimple to C$100m.
Founded in 2014, WealthSimple operates an automated investment platform that collects information on an investor’s financial situation and risk tolerance to generate a personalised, diversified portfolio with low management fees and no minimum investment size.
The capital will support WealthSimple’s continued growth in its home country and the US, as well as…
