Wealthsimple Valuation, Funding & Investors

Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.

Nordnet AB (publ) is a digital platform for savings and investments in the Nordics. The company operates in Sweden, Norway, Denmark and Finland. Its purpose is to democratize savings and investments. It provides trading in a large number of equities, funds, and other types of securities from several markets at a low price, as well as pension savings without fixed fees. The firm also offers margin loans, private loans, and mortgages. There are a number of user-interfaces to choose from, such as web, app, or more trading applications. Digital financial guidance tools are offered to customers who want help and inspiration with their savings. It also operates the widely used social investment network in the Nordics, Shareville.

XP Investimentos is a Brazilian financial services group and investment platform founded in 2001 by Guilherme Benchimol and Marcelo Maisonnave and headquartered in Sao Paulo. It began as an independent brokerage that trained investors and distributed financial products through independent advisers, and it is now listed on the Nasdaq through XP Inc. with Brazilian depositary receipts on B3. The group offers brokerage, fixed income, equities, investment funds, private pension and other products on an open platform, with the Clear and Rico brands. It reported more than 3 million active clients and more than USD 130 billion in custody. From 2021 it bought minority stakes in independent asset managers and research houses and acquired Banco Modal in 2022.

Futu Holdings Ltd is an online broker providing one-stop online investing services. The company provides its services through its digital platform Futu NiuNiu, which includes market data, trading service, and news feed of Hong Kong, Mainland China, Singapore, and the United States equity markets. It generates its revenue in the form of brokerage commission and handling charge services, and interest income.

StoneX Group Inc is a brokerage and financial services firm. Its service offerings are execution, OTC / Market-Making, advisory services, payment solutions, market intelligence, Physical Trading and clearing services. The firm operates in four segments: Commercial, Institutional, Self-Directed/Retail, and Payments. Its customers include governmental and nongovernmental organizations, commercial banks, brokers, institutional investors, and investment banks. The company operates in the United States, South America, Europe, the Middle East and Asia, and other countries, out of which the majority of revenue is generated from the Middle East and Asia Region.

Swissquote Group Holding SA is engaged in providing online financial and trading services. It provides a comprehensive suite of online financial services to a broad spectrum of customers, ranging from retail investors, affluent investors to professional and institutional customers. The Group operates through Swissquote Bank Ltd and globally under the Swissquote brand. It has two segments namely the Securities trading and the Leveraged forex. The Group’s revenues are mainly generated by a transaction fee for each transaction. Swissquote’s core competencies include stock market trading, trading and custody of crypto assets, Forex trading and the Robo-Advisor solution. In addition, Swissquote is active in the payment card, mortgage and leasing markets.

BGC Group Inc is a brokerage and financial technology company that serves financial markets, energy, and commodities markets. Its service and product offerings include brokerage for a wide range of financial products, including fixed income, equities, commodities, derivatives, and real estate, software solutions for trading platforms, clearing, trade execution, and other back-office services. Its clients mostly include banks, financial institutions, and corporate clients. BGC operates in one reportable segment, which is providing brokerage services. Geographically, the company generates a majority of its revenue from Europe, Middle East and Africa (EMEA), followed by the Americas and the Asia-Pacific region.

LPL Financial is the largest US independent broker-dealer, with more than 32,000 financial advisors affiliated with its platform and roughly 11 million customer accounts at the end of 2025. The firm earns the bulk of its profit from interest income earned on client cash balances and from advisory fees and commissions tied to the $2.4 trillion in assets under management or advisory on its platform at year-end 2025. LPL specializes in the provision of turnkey wealth management services for affiliated independent advisors, but maintains a diverse array of affiliation modalities, running the gamut from more traditional employee models to a pure RIA custody approach. It earns tuck-in revenue from recordkeeping fees and the provision of software tools and services to its advisor base.

XTB SA is engaged in brokerage activities. It is a Polish broker from the fintech sector, providing products and services dedicated to active investing, saving, and virtual payment management. The Group conducts its operations through two business segments: the Retail segment includes the provision of trading in financial instruments for individual customers; the Institutional segment includes the provision of trading in financial instruments and offering trade infrastructure to entities (institutions), which in turn provide services of trading in financial instruments for their customers under their brand. It derives maximum revenue from the Retail segment. Geographically, the Group derives its key revenue from Europe, and also has a presence in Latin America and the Middle East.

IG Group Holdings PLC provides online trading services to its clients. The majority of the company's revenue stems from its derivative products and contracts for difference (CFDs). The company operates through various segments which are The U.K. segment which derives its revenue from financial spread bets, CFDs, binary options, and execution-only stockbroking. The Australian segment derives its revenue from CFDs and binary options. The European segment derives its revenue from CFDs, binary options, and execution-only stockbroking. The Rest of the World segment derives its revenue from the operation of a regulated futures and options exchange as well as CFDs and binary options. The company generates more than half of its revenue from the U.K., followed by Europe and Australia.

Interactive Brokers is a large, automated retail and institutional brokerage that boasted nearly $780 billion in customer equity at the end of 2025. The company cut its teeth as a market maker, introducing US financial markets to automated and algorithmic training before expanding into brokerage services in 1993. The firm has a wide-ranging client base, with its best-in-class order execution and extremely low margin lending rates catering to a sophisticated audience of hedge funds, proprietary traders, and introducing brokers that account for about 45% of the firm’s commissions. With operations spanning more than 170 electronic exchanges, 40 countries, and 29 currencies, Interactive Brokers caters to a global clientele, with more than 80% of active accounts sitting outside the US.

Robinhood is a diversified financial services provider best known for its retail brokerage platform, which historically caters to a young, risk-seeking clientele that trades heavily on margin and in higher-risk asset classes like options, futures, cryptocurrencies, and more recently, in prediction markets. As those customers’ financial needs have begun to mature, Robinhood has rolled out a suite of more conventional products, from retirement accounts to high-yield cash sweep accounts to nascent advisory services (Robinhood Strategies). With $322 billion in customer assets and 27 million active accounts at year-end 2025, the firm has emerged as a significant player in the large, growing US brokerage market.

Charles Schwab is one of the largest retail-oriented financial-services companies in the US, with $11.9 trillion in client assets across its brokerage, banking, asset management, custody, financial advisory, and wealth management businesses at the end of 2025. While best known for its retail brokerage offering, Schwab generates the lion’s share of its revenue and profits through its Charles Schwab Bank and asset management segments. The firm is a dominant player in Registered Investment Advisor (RIA) custody, with over 40% market share, and has recently pushed into wealth management with robo-advisory, direct indexing, and other managed-investment solutions.

FalconX is a San Francisco-based institutional digital-asset prime brokerage offering crypto trading, financing and custody services to professional investors. It was founded in 2018 by Raghu Yarlagadda and Prabhakar Reddy, alumni of Google and Accel, and its first product processed more than $7 billion of transactions in its first ten months. The platform provides spot and derivatives execution, electronic options, ETF-related services, credit and prime brokerage to hedge funds, asset managers, corporate treasuries and other institutions, earning revenue from trading spreads, financing and service fees. FalconX reports more than $2.5 trillion of cumulative trading volume and more than 350 employees globally. It has raised more than $430 million from investors including Accel, Coinbase Ventures, American Express Ventures, Tiger Global, B Capital, Altimeter Capital, Sapphire Ventures, GIC, Thoma Bravo and Wellington Management. Its $150 million Series D, led by GIC and B Capital in June 2022, valued the company at $8 billion, more than double the $3.75 billion valuation of its August 2021 Series C.

BitMine Immersion Technologies is a publicly traded digital-asset and blockchain-infrastructure company headquartered in Las Vegas. The business accumulated a large Ethereum treasury and developed staking operations intended to earn network rewards on those holdings. It also operates the Made in America Validator Network, known as MAVAN, as an institutional Ethereum staking platform. BitMine acquired Pier Two in March 2026 to add validator technology, personnel and operating capabilities to that platform. The company also has a history in cryptocurrency mining and infrastructure services. It earns revenue from staking, digital-asset infrastructure, mining and related treasury activities rather than from investment-management fees charged to third-party funds. Its shares trade publicly in the United States, exposing investors to the value and operating yield of its digital-asset holdings and infrastructure.

Upgrade is a San Francisco-based fintech company and neobank that provides consumer credit and banking products to mainstream US consumers. Its offerings include personal loans, the Upgrade Card and OneCard credit cards that convert purchases into fixed-rate installment plans, home improvement and auto financing, buy-now-pay-later travel financing through Uplift, which it acquired in 2023 for US$100 million, high-yield savings and rewards checking accounts, and free credit monitoring tools. Loans and cards are issued through partner banks, and Upgrade earns revenue mainly from interest, origination fees and the sale of loans to institutional investors. It has helped customers access more than US$50 billion of consumer credit since it began lending in 2017, and its annualised revenue passed US$1 billion in May 2025. The company is headquartered in San Francisco, with an operations center in Phoenix, Arizona, a technology center in Montreal and about 1,950 employees. It was founded in 2016 by Renaud Laplanche, the co-founder and former chief executive of LendingClub. Upgrade has raised about US$750 million of equity from investors including Union Square Ventures, Ribbit Capital, Koch Disruptive Technologies, Coatue, DST Global and Neuberger Berman, most recently at a US$7.3 billion valuation in October 2025.

Plata is a Mexico City-based fintech providing a no-annual-fee Mastercard credit card and buy-now-pay-later service. The platform offers up to 15% customizable cashback in partner categories, interest-free installments, Apple Pay support, and 24/7 fraud monitoring. Plata Difiere extends installment credit up to MXN 200,000 over 3-24 months without cards. Users manage digital cards and top-ups via app or cash at OXXO stores, targeting underserved consumers in Mexico's digital payments market.

Crypto.com is a Singapore-headquartered cryptocurrency exchange founded in 2016. The platform facilitates buying, selling, and trading more than 350 cryptocurrencies and tokens across spot, derivatives, and perpetual futures markets. Users access on-chain staking for assets like Ethereum and Cosmos, earn interest through flexible savings accounts, and build diversified portfolios with crypto baskets tracking indices such as DeFi or metaverse sectors. Crypto.com issues the Crypto.com Visa Card available in multiple tiers with cashback rewards up to 8 percent. The company powers fiat on-ramps in over 30 countries including USD, EUR, and GBP pairs. It operates the Cronos blockchain for DeFi applications and runs an NFT marketplace featuring collections from artists and brands. Crypto.com holds naming rights to Crypto.com Arena in Los Angeles and partners with Formula 1.