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Wealthfront app.
Supply: Wealthfront
Wealthfront, the startup that helped popularize the robo-advisor fashion of automated investing, filed for a U.S. preliminary public providing Monday, making it the most recent in a wave of fintech companies going public this yr together with Chime and Klarna.
The corporate in June filed confidentially for an IPO, however waited till now to make that submitting public. That indicators that Wealthfront is planning on kicking off its roadshow to pitch shares to traders; an IPO sometimes follows weeks after the S-1 submitting is made public. The corporate intends to listing on Nasdaq beneath the ticker image “WLTH.”
Wealthfront, led by CEO David Fortunato, had $88.2 billion in belongings on its platform and served 1.3 million prospects as of July 31, in response to the submitting. It generated $194.4 million in web revenue on $308.9 million in income throughout in fiscal 2025 which ended on Jan. 31, per the submitting.
“Our purchasers are primarily digital-native excessive earners who prioritize financial savings and wealth accumulation,” the corporate mentioned. “Digital natives sometimes have massive liquid financial savings with very long time horizons forward, and they’re undeterred by corrections and bear markets.”
The corporate, based in 2008, has had a protracted and winding journey to the general public markets.
Together with rival Betterment, Wealthfront helped outline the robo-advisor class, which makes use of algorithms to automate funding selections for purchasers.
Inside years, huge banks together with Morgan Stanley and Financial institution of America unveiled their very own robo choices to enhance their massive armies of human monetary advisors.
In 2022, the Zurich-based world financial institution UBS mentioned it was shopping for Wealthfront for $1.4 billion in money, however the deal collapsed because the market turned all of the sudden skeptical on fintech companies amid rising rates of interest.
It is taken years for the marketplace for fintechs to get well, resulting in a rebound in listings this yr.
Wealthfront employed 359 individuals as of July 31, in response to the submitting.
— CNBC’s Jordan Novet contributed to this report.
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