Robo Adviser Wealthsimple Hits Unicorn Status With TCV Deal (3)

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.

The company, controlled by ...