Wealthsimple, led by Chief Executive Officer Michael Katchen, pitches itself as a low-fee way to invest through its robo-advisory services and commission-free stock trading. It has more than 175,000 users globally who sit in three tiers of membership based on deposit size, according to its website. The company had previously raised about $190 million, valuing it at $743 million, PitchBook data show.

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