Funding round
Wealthsimple Growth
Reported as "Growth Equity"
Wealthsimple, which works in investment management services in Toronto, raised $610M in a Growth round announced on 3 May 2021, led by Meritech Capital and Greylock Partners, at a $4.07B post-money valuation. 15 firms took part, 2 of them already investors. It is Wealthsimple's third venture round on record; the one before was a Series B in May 2017.
$610M
Amount raised
750,000,000 CAD converted
$4.07B
Post-money valuation
15
Investors
2 leads
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Wealthsimple at $4.07B after the new money. The $610M bought investors about 15% of the company. It came 48 months after Wealthsimple's Series B. It is 51% of the $1.19B Wealthsimple has raised in the venture rounds on record. Wealthsimple raised again 53 months later: a Growth round of $540M in Oct 2025, at $7.10B post-money.
Wealthsimple's funding rounds
Wealthsimple has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Meritech Capital and Greylock Partners led the round with 13 other firms. Meritech Capital and Greylock Partners had backed Wealthsimple before.
Lead investors
- Meritech Capital backs 84 venture-backed companies existing investor
- Greylock Partners backs 190 venture-backed companies existing investor
Also in the round
- DST Global backs 179 venture-backed companies new investor
- backs 6 venture-backed companies new investor
- Iconiq new investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- Technology Crossover Ventures backs 86 venture-backed companies new investor
- Inovia backs 120 venture-backed companies new investor
- Allianz X backs 23 venture-backed companies new investor
- backs 108 venture-backed companies new investor
- Redpoint Ventures backs 194 venture-backed companies new investor
- STEADFAST new investor
- Alkeon backs 51 venture-backed companies new investor
- TSV new investor
- backs 15 venture-backed companies new investor
Joined the board: Max Motschwiller (Meritech).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
14 Growth rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $73M, and this round was 8.4 times the median. The closest in time, other companies' Growth rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 2 May 2021 | $65M | not disclosed | Sequoia Capital India |
| Investment Consultants & Financial Advisors | 19 Apr 2021 | $138M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 29 Jun 2021 | undisclosed | not disclosed | TELEO Capital |
| Investment Consultants & Financial Advisors | 28 Jul 2021 | $3.5M | not disclosed | Pinorena Capital |
| iCapital Investment Consultants & Financial Advisors | 9 Sep 2021 | $440M | $4.00B | Temasek |
| Investment Consultants & Financial Advisors | 13 Jan 2021 | $122M | not disclosed | Vitruvian Partners |
| Investment Consultants & Financial Advisors | 17 Sep 2021 | $5.9M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 10 Dec 2020 | $60M | not disclosed | not named |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Wealthsimple raise in its Growth round?
Wealthsimple raised $610M in its Growth round, announced in May 2021.
Who led Wealthsimple's Growth round?
Meritech Capital and Greylock Partners led it, with DST Global, Sagard, Iconiq, Dragoneer Investment Group and Technology Crossover Ventures and 8 more.
What was Wealthsimple's valuation at the Growth round?
$4.07B post-money.
How does it compare with other Growth rounds in Investment Consultants & Financial Advisors?
14 Growth rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $73M, and this round was 8.4 times the median.
Did Wealthsimple raise again after this round?
Yes: a Growth round in Oct 2025 of $540M at $7.10B post-money.