Canada’s Wealthsimple Valued at C$10 Billion in Equity Round (1)

Wealthsimple Financial Corp. raised C$750 million ($536 million) in the latest equity round that would value the financial services firm at C$10 billion, making it one of Canada’s most valuable startups.

The capital raise announced Monday is co-led by San Francisco-based Dragoneer Investment Group and GIC in Singapore. The round includes both a C$550 million primary offering and a secondary offering of up to C$200 million.

Canada Pension Plan Investment Boardis investing in Wealthsimple for the first time during the round, which also includes existing investors IGM Financial Inc., ICONIQ, Greylock, Meritech and Power Corp. of Canada. ...