Robo-adviser Wealthsimple raises $65 mln to expand service: Reuters
Wealthsimple, a Toronto-based online wealth management startup, has raised $65 million (US$51 million) in funding from Power Financial Corp, as it seeks to compete in the increasingly crowded digital investment advice market, Reuters reported. The company, which is among the group of digital investment managers known as robo-advisers, last year became the first such foreign startup to enter the U.S. market and later opened in the United Kingdom. It currently manages about $1.9 billion for more than 65,000 clients in the three markets it operates in. The latest round brings the total investment of Power Financial in Wealthsimple to $165 million.
21 February 2018•2 mins read
