Canadian investing platform Wealthsimple has agreed to an equity round of up to CA$425 million (about US$302 million) at a post-money valuation of CA$13.8 billion (about US$9.8 billion).

GIC is leading the Wealthsimple funding round, having co-led the firm’s CA$750 million raise at a CA$10 billion valuation in October 2025.

Since then, the firm said, its core investing business has kept growing at a strong pace. Its newer chequing, spending and business products have also seen strong adoption.

The deal includes a CA$300 million primary offering and a secondary offering of up to CA$125 million.

Through the secondary offering, employees can share in the value they helped create.

Existing investors Power Corporation of Canada, IGM Financial, ICONIQ, CPP Investments and Inovia are participating.

Wealthsimple said it will use the capital to expand its products and invest in technology infrastructure.

“This raise reflects the deep conviction our partners have in Wealthsimple’s mission and in our role as the company defining the future of financial services in Canada,”

said Michael Katchen, CEO and co-founder at Wealthsimple.

“We are excited to lead this financing and support the company as it helps more Canadians build a stronger financial future,”

said Vinay Yarlagadda, Managing Director of the Technology Investment Group at GIC.

As of 30 September 2026, the firm had CA$169.2 billion in assets under administration, up from CA$100 billion at its last raise. More than four million Canadians and over 30,000 businesses use it.

In Q2 2026, new chequing account openings outpaced new investment accounts for the first time.

Over the past year, it launched more than 50 products, including commission-free options trading and futures trading.

The firm will announce upcoming releases at its fourth Wealthsimple Presents on 5 November.

Featured image: Edited by Fintech News Switzerland, based on image by Wealthsimple via its website and lifeforstock via Magnific.