Fintech Startup Wealthsimple Raises $50 Million

Wealthsimple has raised a sizeable round of venture capital.

The Toronto-based financial technology startup raised $50 million (Canadian) from Power Financial.

The Canadian investment platform, which offers robo-advisors to make investing simple and easy, now has 30,000 clients and $750 million in assets under management.

Wealthsimple, which recently expanded into the US market, says its long-term relationship with Power Financial gives the company serious leverage in the financial sector.

The company’s founder, Michael Katchen, was named this year’s Entrepreneur of the Year at the Canadian Startup Awards.

Wealthsimple is actively hiring for several positions in Canada.

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