Wealthsimple achieves $1.5 billion valuation on new fundraising round

Canadian robo-advisory firm Wealthsimple has achieved Unicorn status on a CA$114 million investment round led by by TCV, along with Greylock, Meritech, Two Sigma Ventures and existing investor Allianz X Wealthsimple, which manages $8.4 billion and has more than 1.5 million users, pitches itself as a low-fee way to invest through its robo-advisory services and commission-free stock trading. The company had previously raised about US$190 million, valuing it at US$743 million.
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