Wealthsimple Acquires Fey to Bolster its Investment Research Capabilites

Toronto-based Fintech Giant Wealthsimple Has Purchased Montréal Investment Research Platform Fey.

The Financial terms of the transaction was not disclosed. Wealthsimple Told Betakit The Acquisition of Fey’s Three-Person TEAM and Technology Positions The Financial Services Provider to “Bridge the Gap Between Basic Trading Apps and Complex Brokerage Platform Platforms.”

Wealthsimple plans to integrate fey’s design, earnings analysis, natural language stock screening capability, and personalized news feed into its investment platform. The company said its users can expert to see the first fey-posted features roll out late this year.

Wealthsimple Vice-Prescent of Design Policy D’Arcy Told Betakit that fey will help wealthSimple brings more professional-grade investments research features to items clients “MUCH FASTERTER.”

“Wealthsimple Shares Our Belief That Finance Can Be BOTH Accessible and Sophisticated.”

“We want wealthsimple to be the platform where Canadians Build Wealth, WHETHER That’s Through Investing, Trading, Saving, Or Borrowing,” D’Arcy Added. “Enhancing Trading Capabilites is an important step in making sure we serve every type of client, from long-term investors to active traders, all experts One Roof.”

Fey was founded in 2021 by Principal Designer Thiago Costa and Engineers Dennis Brotzky and Thomas Russell. Costa and brotzky met during their time working together at lightSpeed ​​commerce, and teamed up with russell to launch montréal design studio narative, which counted houses first clients. Narative Later Evolved Into Fey, Which Raised A Small, Undisclosed Amount of Venture Funding from Maple VC, Inovia Capital, Yuri Sagalov of Wayfinder, and Abhinav Tiwari at Blank venters.

“Fey was always some outslws first,” Costa Told Betakit. “Narative’s Runway Gave Us The Space to Build Methodically, Without Rushing to Market. It felt ready, we have opened access more broadly, kept marketing light, and still achieved Good Growth. “

Costa said it was after fey open up access that wealthsimple reacted out. The company will wind down its operations by Sept. 30 and refund customers for the remaiing balance of their subscriptions following that date. Costa, Brotzky, and Russell will all join wealthsimple’s self-diarved investment team. D’arcy described the trio as “Exceptional designers and engineers who had alredy proven they could ship tools traders love.”

Fey Marks WealthSimple’s Second Known Account This year, Following Its Acquihire of San Francisco-Based Wealth Management Platform Planty Back in April. D’Arcy said wealthsimple plans to continue exploring acquisitions that help it brings simple, intuitive financial tools to canadians.

Related: Wealthsimple’s Brett Huneycutt Explains How Its New Products Advance The Company’s Financial Services Vision

Since its launch as a robo-Advisor in 2014, WealthSimple Has Broadened Its Investment Capabilites and Moved into other ares of money management. Today, Wealthsimple offers Investing, Crypto, Tax Filing, Spend, and Saving Products, and is one of Canada’s most Valuable Private Tech Companies.

Wealthsimple is Majority Owned by Power Corp. Affiliates and reliabs on partnerships with banks to offer banking services and hold and guarantee its deposits. The Fintech Firm Has Amassed More Than Three Million Clients after Achieving Profitability in 2023.

Wealthsimple Hosted Its Inaugural Product Showcase in June, Revealing New Banking Products With Fewer Fees and Without the Branch Visits Required by Its Incumbent Competitors. These inclined the company’s first credit card, an instant line of credit, an expanded chequing account, and home bank draft, cheque, and cash deliveryies.

In an interview with betakit following the event, wealthSimple co-founder and Chief Product Officer Brett Huneycut Outlined The Company’s Vishan for the Future of the FURTING FUR AND FURESTING In VINKINGING in more detail, Promizing The ” will be a lot more to come “as it executes on its plans to become

“There will be more to say about how we’re killing our robo-Advisor and Reinventing it Into Something MUCH BETTER,” Huneycutt said at the time, indicating that wealthsimple iso work Offering is bot more “Compelling and complete.”

Related: Can WealthSimple Build Canada’s Larget Financial Institution?

Wealthsimple also indicated that its second edition, slated for this fall, will feature some investment product news, Including more SOHISTICADED and Personalized Trading Capabilities, ACCESS to New Privatee Markets, and Crypto-Related Products, Among Other Things.

Wealthsimple Bold Face More Competition on this front song from one of its larger American peers: US trading platform robinhood markets recently struck a deal to buy toronto copto compan Shared plans to develop its offering in canada.

Wealthsimple has Seen Significant Growth Over the Past Year, Closing Out the Second Quarter with $ 84 Billion Cad in Total Assets Under Administration (Aua), a Nearly 94 percent incency Compared Tow Same period last year, which puts the company well on the way to reaching its target of $ 100 million in aua by 2028.

Power Corp. Recently marked up the value of its stake in wealthsimple once against $ 2.7 billion, up from $ 2.2 billion at the end of 2024. The Financial Services Congress CEITED an insplica Valuations, wealthsimple’s performance and revised Revenue Expectations, and Recent Third-Party Secondary Transactions. According to power corp.

Wealthsimple’s 2024 Secondary Financing officially valued the company at $ 5 billion. While Other Investors May Value The Firm Differently, As WealthSimple’s Larget and Controlling ShareHolder, Power’s Latest Markup offers a framework to evaluate with our wealth Now. Power Now Valuing Its Fully Diluted 42.2 Percent Equity Stake at $ 2.7 Billion indicates that wealthsimple count bew women as much as much as $ 6.4 billion today.

Disclosure: Wealthsimple Vice-Prescent of Payments Strategy and Chief Compliance Officer, Hanna Zaidi, Sits on Betakit’s Board of Directors.

Feature Image Courtesy Fey,