Wealthsimple launched just over two years ago, and already the Canadian company is rolling out their robo-adviser services across the United States. That’s only part of the reason why CEO Michael Katchen just took top honors as Entrepreneur of the Year at the Techvibes 2016 Canadian Startup Awards.
What a Robo-Adviser Does
A robo-adviser is an online service that invests your money for you using software rather than a human portfolio manager. You answer questions about your goals and how much risk you can handle, and the service puts you in a ready-made portfolio, usually of low-cost index funds, then rebalances it automatically.
Because so much of the work is automated, robo-advisers can charge lower fees and accept much smaller accounts than traditional advisers. That made them a natural fit for younger investors who were starting with little money and were comfortable doing everything on their phones.
How Wealthsimple Got Started
Wealthsimple was founded in September 2014 by Michael Katchen, Brett Huneycutt and Rudy Adler, and is based in Toronto. Early on, it got important backing from Power Financial Corporation, part of the Power Corporation of Canada group, which invested $30 million in its Series A funding.
Get the TechPortfolio briefing
The month’s fintech and funding news, plus new tools for founders, in one short email.
As the Financial Post reports, Wealthsimple’s steady climb to 20,000 users in Canada and CA$750 million in assets is a result of aggressive but smart expansion, and an outlook that takes national regulations into account while pushing forward with an international vision.
“We want to build one of the largest and most innovative financial services companies globally,” says founder Katchen. “(Our recent U.S. launch) is very rare for a financial services company, especially a company at our stage.” 2016 also saw Wealthsimple introduce socially responsible investment portfolios and a new account minimum of $0, allowing investors of all levels to join.
Entrepreneur of the Year
“It’s exciting for me and for the whole team,” says Katchen of his Entrepreneur of the Year win. “It’s humbling to be in that category with some amazing people. Mike Serbinis (of League) is one of the Canadian entrepreneurs I most admire, so that was awesome.”
Katchen and the Wealthsimple team don’t aim to be industry disruptors: instead they want to be enablers working with financial services professionals to make investment wealth a real possibility for everyone.
“I feel very lucky,” says Katchen. “We feel energized and excited about where we’re going to go from here. We’re just getting started.”
What Happened Next
“We’re just getting started” turned out to be accurate. Wealthsimple grew well beyond robo-advice, adding commission-free stock trading, crypto trading and everyday banking features. Its own announcements now describe a platform that brings together self-directed investing, managed portfolios, digital assets, spending, tax filing and advisor services.
The money followed. In May 2021, Wealthsimple announced a $750 million CAD financing round at a post-money valuation of $5 billion CAD, co-led by Meritech Capital Partners and Greylock Partners. In October 2025, it signed another equity round of up to CAD $750 million, this time at a post-money valuation of CAD $10 billion, co-led by Dragoneer Investment Group and GIC. The company said it was profitable in 2024 and continued to be profitable in 2025.
The asset numbers tell the same story. In 2017, Wealthsimple had CA$750 million in assets. By October 2025, it had passed $100 billion in assets, three years ahead of its own schedule, according to The Globe and Mail. “This raise reflects deep confidence from new and returning investors in our mission and our role as a defining Canadian company,” Katchen said of the 2025 funding round.
What It Means for Fintech Founders
Wealthsimple’s path shows the value of starting with one simple product and earning trust before expanding. Robo-advice brought in a generation of first-time investors, and the company then built trading, banking and other services around the customers it already had.
It’s also a reminder that a $0 minimum, which looked like a small decision in 2016, can shape a company’s whole future. Making it easy for people with little money to start is how Wealthsimple built the large customer base that later products were sold to.
Frequently Asked Questions
Why did Michael Katchen win Entrepreneur of the Year?
Michael Katchen won Entrepreneur of the Year at the Techvibes 2016 Canadian Startup Awards after Wealthsimple grew to 20,000 users and CA$750 million in assets in Canada and began expanding its robo-adviser services across the United States.
What is a robo-adviser?
A robo-adviser is an online service that invests money using software instead of a human portfolio manager. It places clients in ready-made portfolios based on their goals and risk tolerance and rebalances them automatically, usually at lower fees than traditional advisers.
Who founded Wealthsimple?
Wealthsimple was founded in September 2014 by Michael Katchen, Brett Huneycutt and Rudy Adler, and is based in Toronto. Power Financial Corporation invested $30 million in its Series A funding.
How much has Wealthsimple raised since 2017?
In May 2021, Wealthsimple announced a $750 million CAD round at a $5 billion CAD valuation. In October 2025, it signed an equity round of up to CAD $750 million at a post-money valuation of CAD $10 billion.
How big is Wealthsimple now?
By October 2025, Wealthsimple had passed $100 billion in assets, three years ahead of its own schedule. The company said it was profitable in 2024 and 2025.