Michael Katchen just announced another big win for Canada. Wealthsimple has received the largest private tech investment in Canadian history.
Meritech Capital and Greylock, two of the world’s premier #tech investors, are leading a $750 million investment round to help Wealthsimple do what we always believed it could: revolutionize the way we do money, and become the biggest consumer finance company in Canada in the process.
Here are a few details about the investment:
– The new round gives Wealthsimple a valuation of $5 billion.
– Besides Meritech and Greylock, best-in-class investors including DST Global, Sagard, ICONIQ Capital, Dragoneer Investment Group, TCV, Inovia Capital, Allianz X, Base10 Partners, Redpoint Ventures, Steadfast Equity, Alkeon Capital Management, TSV, Plus Capital Capital and others participated in the round, plus prominent Canadians actors Ryan Reynolds, Michael J. Fox and athletes Kelly Olynyk, Dwight Powell, and Patrick Marleau.
– And Drake, who also made an investment in the company.
Well done Mike and team. Go #Canada! #wakeupimagine#venturecapital#privateequity#fintech#capitalmarkets
