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Why Did Drake Just Invest in This $5 Billion Canadian Tech Company?

Why Did Drake Just Invest in This $5 Billion Canadian Tech Company? More on: Image source: Getty Images A Canadian fintech startup has plenty of star power. The valuation of Toronto-based Wealthsimple soared to $5 billion after raising $750 million in investments from venture capital investment firms and celebrities on May 3, 2021. Among the star-studded investors were rapper Drake, Green Lantern star Ryan Reynolds, and Back to the Future lead actor Michael J. Fox. Wealthsimple is the firm behind some of the leading digital financial products in Canada. Furthermore, it was chiefly responsible for revolutionizing financial interactions among Canadians. The online financial products it brought to the market are smart and simple.

Wealthsimple secures $750 million CAD, claims $5 billion valuation

Wealthsimple secures $750 million CAD, claims $5 billion valuation Wealthsimple has raised a $750 million CAD financing round as the FinTech company looks to expand its market position and continue to build out its product suite. The Toronto-based startup announced the deal Monday morning, claiming it brings Wealthsimple’s post-money valuation to $5 billion CAD. Wealthsimple plans to use the new capital to expand its market position, build out its product suite, and grow its team. The round was co-led by venture capital firms Meritech and Greylock. The deal also included participation from DST Global, Sagard, Iconiq, Dragoneer, TCV, Inovia, Allianz X, Base 10, Redpoint, STEADFAST, Alkeon, TSV, Plus Capital and others. A number of Canadian celebrities also invested, including Drake, Michael J. Fox, Ryan Reynolds, Kelly Olynyk, Dwight Powell, and Patrick Marleau. The transaction is expected to close by mid-May.

Wealthsimple raising $750 million in latest deal

Winnipeg Free Press By: Tara Deschamps, The Canadian Press Posted: Last Modified: 1:48 PM CDT Monday, May. 3, 2021 Save to Read Later TORONTO - A new financing deal involving plenty of star power and venture capital investors has pushed Wealthsimple s valuation to $5 billion and has its CEO anxious to build the brand even further. A Wealthsimple Trade app icon is shown on a smartphone on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Jesse Johnston TORONTO - A new financing deal involving plenty of star power and venture capital investors has pushed Wealthsimple s valuation to $5 billion and has its CEO anxious to build the brand even further.

Wealthsimple announces landmark $750-million financing from investor group including Drake, Ryan Reynolds

Wealthsimple announces landmark $750-million financing from investor group including Drake, Ryan Reynolds
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Drake, Ryan Reynolds among latest Wealthsimple backers in $750 million funding round - Business News

Drake, Ryan Reynolds among latest Wealthsimple backers in $750 million funding round - Business News
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