Wealthfront Files for IPO as Fintech Exits Heat Up
Wealthfront said it generated $194.4 million in net income for fiscal 2025, marking its first year of profitability.
Robo-advisor Wealthfront plans to go public on the Nasdaq, according to a Securities and Exchange Commission filing. It’s the latest venture-backed financial technology company seeking to list this year, following in the footsteps of Chime, Circle, Klarna, and others.
The company disclosed in its filing that it has $88 billion in customer assets, with more than half of that amount, $47 billion, in cash. It will trade under the ticker WLTH.
Wealthfront said it generated $194.4 million in net income for fiscal 2025, up from $77 million in 2024, marking its first year of profitability. Significant existing investors include Tiger Global, Social Capital, Benchmark Capital, and Index Ventures. The firm last raised a Series H round of $69.7 million at a valuation of $1.4 billion in 2022. It came after an acquisition by UBS fell through.
The company offers both retail and institutional customers access to portfolios that are quantitatively rebalanced. It imposes a management fee and invests in both stocks and bonds, with a business model similar to that of competitors, such as Betterment. It was founded in 2008 as a mutual fund research firm, before pivoting into wealth management in 2013.
Editor’s Note: This article was originally published on PitchBook.com.
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