According to a report from Business Insider, a Canada-based online brokerage company that is backed by hometown rap hero Drake is reportedly valued at $4 billion. Wealthsimple, the company that has other famous Canadian investors including Michael J. Fox and former pro-baseball player Dwight Powell, received over $600 million during its last funding season. According to the report, the app for the company will be the Canadian version of Robinhood.
“More than two million Canadians use Wealthsimple to grow their money, file their taxes, pay their friends, and make their financial lives better,” said CEO Mike Katchen. “This investment will fuel our growth so we can reach millions more and ensure that everyone has access to the simplest, most powerful financial products and services, no matter who they are or where they are in their financial lives.”