MONTREAL — Wealthsimple has undergone a major shift in strategy since last year, when it exited both the U.K. and U.S. markets in order to focus on Canada, and raised $750 million from investors including international players Meritech and Greylock. As it looks to compete with Canada’s largest banks for retail customers, the Toronto-based fintech has been investing in new products spanning tax, crypto, investing, stock trading and payments. At the same time, the company is contending with a market downturn that has hit fintech startups particularly hard, prompting layoffs and other cost-cutting measures at many companies.
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Special Report
‘To compete, you must compute’: Powering Canada’s AI surge
Briefing
OpenAI adds Microsoft as non-voting member
TD Bank to cut 3% of its workforce amid profit slump
Canadian energy companies face pressure to cut emissions as COP28 begins
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
