Wealthsimple raises $20 mln to take on U.S. robo-adviser market: Reuters
Wealthsimple, a Canadian robo-adviser startup, announced a $20 million investment from Power Financial Corp, and formally launched in the United States on Tuesday, as it looks to compete in a crowded American market dominated by big investment firms, Reuters reported. Wealthsimple's national roll-out will make the Toronto-based firm the first foreign robo-adviser startup to enter that market. Wealthsimple said 20,000 customers in Canada have signed up since its launch a little over two years ago, investing more than $750 million in exchange traded funds. The company expects to cross the $1 billion threshold soon.
31 January 2017•2 mins read
