Drake joined the trading card craze earlier in March when he purchased 14 NBA Flawless boxes of cards at $15,000 each and the investment is already paying dividends.
The Toronto-based company has more than tripled the $1.2 billion valuation it received in October 2020. Drake isn’t the only celebrity investor in Wealthsimple, as actors Ryan Reynolds, Michael J. Fox and NBA player Dwight Powell have poured money into the operation.
Wealthsimple brands itself as an “investment manager and trading app,” but has significantly expanded its business expertise to other avenues as the company continued to grow in recent years.
Market Insider says they’ve added the capabilities for stock trading, crypto trading, automated investing and peer cash transfers to their system. The brokerage firm has more than two million users on its interface and manages over $8.4 billion in assets.