M&A Deal Summary

Betterment Acquires Wealthsimple s U.S. Investment Advisory Book of Business

On March 4, 2021, Betterment acquired building materials company Wealthsimple s U.S. Investment Advisory Book of Business from Wealthsimple

Acquisition Highlights
  • This is Betterment’s 1st transaction in the Building Materials sector.
  • This is Betterment’s 1st transaction in Canada.
  • This is Betterment’s 1st transaction in Ontario.

M&A Deal Summary
Date 2021-03-04
Target Wealthsimple s U.S. Investment Advisory Book of Business
Sector Building Materials
Buyer(s) Betterment
Sellers(s) Wealthsimple
Deal Type Divestiture

Target

Wealthsimple s U.S. Investment Advisory Book of Business

Toronto, Ontario, Canada
Wealthsimple's U.S. Investment Advisory Book of Business is a provider of investment advisory services.

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Buyer(S) 1

Buyer

Betterment

New York, New York, United States
Category Company
Founded 2008
Sector Financial Services
DESCRIPTION

Betterment is an online wealth management platform. Betterment leverages its proprietary software and vertically-integrated technology platform to help retail investors better manage, protect, and grow their wealth, all at a much lower cost than traditional asset managers. The Company’s algorithms automatically invest a customer’s assets across a portfolio of exchange traded funds (ETFs), rebalances investor portfolios, reinvests dividends, and drives ongoing tax loss harvesting to optimize long-term returns. Betterment was founded in 2008 and is based in New York, New York.

DEAL STATS #
Overall 1 of 2
Sector (Building Materials) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 Makara

Seattle, Washington, United States

Makara offers passive exposure to dozens of vetted cryptocurrencies via its thematic baskets, which are tailored to meet different investment goals and interests. Makara is based in Seattle, Washington.

Buy -

Seller(S) 1

SELLER

Wealthsimple

Toronto, Ontario, Canada
Category Company
Founded 2013
Sector Internet Software and Services
DESCRIPTION

Wealthsimple is an online investing service and trading app investing client's money in a globally diversified portfolio of low-cost index funds, and cutting-edge technology helps to earn the best possible return while optimizing tax bill. Wealthsimple was founded in 2013 and is based in Toronto, Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Building Materials) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-24 SimpleTax Software

Vancouver, British Columbia, Canada

SimpleTax Software, Inc. is a provider of software services for financial industry. SimpleTax Software is based in Vancouver, British Columbia.

Buy -
Mergr

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