One of the major initiatives of Prime Minister Justin Trudeau's administration is to encourage innovation in Canada. That's why he came to Wealthsimple HQ in Toronto today to help us mark a pretty big milestone.

The success of Wealthsimple has turned heads all over the world. — Prime Minister Justin Trudeau

The big news is that we've crossed the $1 billion mark. Today our more than 30,000 clients have trusted us with more than $1 billion of their hard-earned money. It's a major endorsement of our mission: to bring smart, simple, sophisticated investing to everybody regardless of age or net worth.

“Wealthsimple is an example of fintech innovation at it's finest. Hitting a billion dollars in assets is no small feat for any company, let alone one that's only two years old. To put it mildly, the success of this business has turned heads all over the world.” said Prime Minister Justin Trudeau.

Which leads us to our second bit of good news — a different kind of endorsement. The Power Financial Group committed an additional $50 million of funding to support our continued growth in the United States and Canada.

It feels like a big moment for a company that is not much more than two years old.

We want to give a big shout-out to our team for all the work they've done. And more importantly, to the tens of thousands of people who've trusted us with more than a billion dollars. We're going to work hard to continue to earn that trust and make the world of investing simple, honest, smart, and transparent. The news lately about big financial institutions posting record profits while beset by financial scandals shows us there's still a lot of work to be done. We feel pretty confident that our best days are ahead.

Meanwhile, if you really want to understand how it all works, download our app (available on iOS and Android) or check out our website (which just won it’s second straight Webby Award). You’ll see why we’re turning heads all over the world. At least that’s what Prime Minister Trudeau says.

Michael Katchen
CEO, Wealthsimple

Photography by Saty+Pratha.

Share this article