Wealthsimple raises $75 million and says it’s closer on path toward an IPO

The Toronto-based start-up said the investment was led by the digital investment arm of Germany’s Allianz, Allianz X, with additional backing coming from early investor Power Financial. Wealthsimple’s CEO Michael Katchen told CNBC back in October that the firm was likely to raise more money. He also said the eventual goal for the company was to launch an initial public offering, but that this was still “several years out.”

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