Deals
Robo Adviser Wealthsimple Hits Unicorn Status With TCV Deal
- Canadian startup seals deal to raise cash from Silicon Valley
- Existing backers include Power Financial and Allianz tech fund
Source: Wealthsimple
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Wealthsimple Inc. raised money from an investor group led by Technology Crossover Ventures that will give the Canadian investment firm unicorn status.
The Toronto-based startup closed a fresh round of C$114 million ($87 million) in funding led by Menlo Park, California-based TCV that values it at more than $1 billion, the company said in a statement Wednesday, confirming a report by Bloomberg on Tuesday. Other investors in the round include Greylock Partners, Meritech Capital Partners, Two Sigma Ventures and Allianz X, the tech investment fund of Munich-based insurer and asset manager Allianz SE.