Power Financial to invest up to $30 mln in Wealthsimple
Wealthsimple, which was launched last September with venture capital funding, has entered into a partnership with Canadian financial holding company Power Financial Corp. Under the terms of the partnership, Power Financial will invest $10 million in Wealthsimple. It has also committed to a potential additional investment of up to $20 million over the next 12 months, with an option to make further investments over the next three years. The Toronto-based Wealthsimple, a provider of technology-driven investment management strategies, said the deal will allow it to offer its solutions to more Canadian investors. The company is backed by Impression Ventures and a number of angel investors.
9 April 2015•3 mins read
