Wealthsimple, the Toronto-based FinTech company, has raised up to $750 million CAD in a Series E funding round, reaching a post-money valuation of $10 billion. This is a significant jump from its $5 billion valuation just a year ago. The funding comes after Wealthsimple reported it has doubled its assets under administration to $100 billion, achieving this milestone three years ahead of its projections. The company claims profitability and serves over three million clients, positioning itself as Canada’s most valuable private tech company. The Series E round includes a $550 million primary offering and up to $200 million in secondary offerings. Dragoneer Investment Group leads the round alongside new investors GIC and CPP Investments, with backing from existing investors like Power Corporation of Canada. Wealthsimple plans to use the funds to enhance its product offerings in investing, spending, and credit, while also exploring strategic mergers and acquisitions. Recently, it acquired Montréal-based Fey and San Francisco’s Plenty to strengthen its investment capabilities. This funding round alleviates some pressure for Wealthsimple to rush into an initial public offering (IPO). Although the company aims to go public eventually, it hasn't provided specific timelines. The Series E marks Wealthsimple's second major financing in five years, following a similar $750 million round in May 2021. Despite the large investments, Wealthsimple has not disclosed specific revenue or profitability figures, nor details about changes to its board of directors.