On October 14, 2020, Toronto-based FinTech startup Wealthsimple
announced that it had raised C$114 million in equity financing.
Following the raise, Wealthsimple claims it has reached a unicorn
valuation of C$1.4 billion.
The investment was led by TCV, a growth equity investor focused
on technology. Other participants included Greylock, Meritech, Two
Sigma Ventures, and existing investor Allianz X.
The new financing comes on the heels of a busy year for
Wealthsimple, which began expanding into new financial services
verticals, including crypto assets as well as saving and
spending.
BLG represented Allianz X with a team led by Prema Thiele that included Julie Mansi and Jason Saltzman.