Meritech and Greylock led a $611m financing round in Wealthsimple.

Venture capital firms Meritech Capital and Greylock Partners led a $611m financing round in Wealthsimple, a Canadian online investment management service focused on millennials, with participation from Inovia, Sagard and Redpoint, Two Sigma Ventures, TCV, as well as individual investors including Drake, Ryan Reynolds and Michael J. Fox. With this funding, Wealthsimple plans to expand its market position, build out its product suite, and grow its team. The company also offers automated savings and investing products, as well as tax filing tools, and it has demonstrated a clear appetite and ability to expand its offerings to encompass even more of its customers financials lives when committed with fresh resources to do so.