Briefing

Wealthsimple raises $100 million, led by Allianz X

The funding round represents one of the biggest investments in a Canadian fintech company, said Wealthsimple CEO Michael Katchen. Investments include $30 million from Power Corporation, which, along with its subsidiaries Portag3 and IGM, owns a 88.6 per cent stake in the robo-adviser. Wealthsimple did not disclose how much Allianz, a Germany-based global insurance and investment company that manages close to €2 trillion in assets, invested, or what its stake in Wealthsimple will be. (Globe and Mail)

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