Funding round
Wealthsimple Series B
Wealthsimple, which works in investment management services in Toronto, raised $37M in a Series B round announced on 11 May 2017. It is Wealthsimple's second venture round on record; the one before was a Seed in May 2014.
$37M
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Wealthsimple did not disclose a valuation in this round. It came 36 months after Wealthsimple's Seed. It is 3.1% of the $1.19B Wealthsimple has raised in the venture rounds on record. Wealthsimple raised again 48 months later: a Growth round of $610M in May 2021, at $4.07B post-money.
Wealthsimple's funding rounds
Wealthsimple has 4 venture rounds on record. This one is highlighted.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series B rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $25M, and this round was 1.5 times the median. The closest in time, other companies' Series B rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 4 May 2017 | $3.0M | not disclosed | ETF Securities and Alium Capital Management |
| Investment Consultants & Financial Advisors | 28 Sep 2017 | $30M | not disclosed | Eight Roads |
| Stash Investment Consultants & Financial Advisors | 14 Dec 2016 | $25M | not disclosed | Valar Ventures |
| Investment Consultants & Financial Advisors | 23 Oct 2017 | $16M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 29 May 2018 | $53M | not disclosed | Allianz Asset Management |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Wealthsimple raise in its Series B round?
Wealthsimple raised $37M in its Series B round, announced in May 2017.
What was Wealthsimple's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Investment Consultants & Financial Advisors?
5 Series B rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $25M, and this round was 1.5 times the median.
Did Wealthsimple raise again after this round?
Yes: a Growth round in May 2021 of $610M at $4.07B post-money.