Wealthsimple's Transaction Strengthens Growth Trajectory
IGM Financial Inc., a leading Canadian wealth and asset management company, announced details of Wealthsimple's financing round of up to $750 million.
The transaction includes a $550 million primary offering and a $200 million secondary offering, co-led by GIC and Dragoneer, to accelerate Wealthsimple's growth.
- New investor: CPP Investments
- Existing investors: IGM, Power Corporation of Canada, ICONIQ, Greylock, and Meritech
The value of IGM's investment in Wealthsimple increased by $680 million to $2.16 billion.
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Author's summary: IGM Financial's investment in Wealthsimple grows to $2.16 billion.