Robo-advice giant Wealthfront considers IPO

By Moriah Costa on 10th August 2017

Robo-AdviceEquity Crowdfunding

The American digital wealth management firm aims to have the biggest market share.

Robo-advice giant Wealthfront considers IPO

Leading robo-adviser Wealthfront plans to make an Initial Public Offering in the future, a company spokesperson has said.

“That's definitely the goal to reach an IPO someday,” senior director of communications Kate Wauck told investing website Benzinga. “I think you'll see a few players remaining at that point [in robo-advising before that time], but honestly no one is approaching it the way that Wealthfront is therefore we plan to have the biggest share of our market.”

The Redwood City, California-based platform is among the largest robo-advice platforms in the world, with nearly USD $5bn in assets under management.

The company has already raised $129.5m, according to Crunchbase. Wauk noted in the interview that the firm was not raising money, although the last funding round was in 2014. In comparison rival platform Betterment has raised nearly $300m since it was founded in 2008.

Wealthfront also recently announced it would offer ethical investing options to its customers later this year.

AltFi Berlin Summit 2019

AltFi is coming to Berlin this Winter for our first annual Summit in the City.

18th November 2019


People in this Article:

More like this:

Nutmeg integrates with Apple Pay

11th September 2019
Daniel Lanyon

MoneyBox Review - September 2019

2nd September 2019
Daniel Lanyon