Funding round
Wealthsimple Seed
Wealthsimple, which works in investment management services in Toronto, raised $2.0M in a Seed round announced on 1 May 2014. 1 firm took part, with 4 individual investors. It is Wealthsimple's first venture round on record.
$2.0M
Amount raised
Not disclosed
Post-money valuation
1
Investors
no lead named
Valuation
What this round says about the price
Wealthsimple did not disclose a valuation in this round. It is under 1% of the $1.19B Wealthsimple has raised in the venture rounds on record. Wealthsimple raised again 36 months later: a Series B round of $37M in May 2017. Its next priced round, a Growth in May 2021, valued it at $4.07B.
Wealthsimple's funding rounds
Wealthsimple has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
1 firm took part; no lead investor was named.
Investors
- backs 17 venture-backed companies new investor
Individual investors: Joe Canavan, Roger Martin, David Ossip and Dan Debow.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Seed rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 11 Jun 2014 | $1.0M | not disclosed | Steadfast Venture Capital |
| Investment Consultants & Financial Advisors | 1 Dec 2014 | $1.0M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 3 Dec 2014 | $1.0M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 21 Jan 2015 | $3.4M | not disclosed | Cambia Health Solutions |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Wealthsimple raise in its Seed round?
Wealthsimple raised $2.0M in its Seed round, announced in May 2014.
Which investors took part in Wealthsimple's Seed round?
Impression Ventures.
What was Wealthsimple's valuation at the Seed round?
It was not disclosed.
Did Wealthsimple raise again after this round?
Yes: a Series B round in May 2017 of $37M.