According to reports, a Toronto-based online brokerage company backed by Drake is valued at $4 billion.
The company, Wealthsimple, received roughly $610 million during its last round of funding. However, Drake isn’t the only famous Canadian investing in the company. Some of the other investors include actors Michael J. Fox, and Ryan Reynolds, in addition to former pro-baseball player Dwight Powell. The app is positioned to be a 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.”