Wealthfront app.
Supply: Wealthfront
Wealthfront, the startup that helped popularize the robo-advisor model 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 buyers; an IPO sometimes follows weeks after the S-1 submitting is made public. The corporate intends to listing on Nasdaq below the ticker image “WLTH.”
Wealthfront, led by CEO David Fortunato, had $88.2 billion in property 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 earnings on $308.9 million in income throughout in fiscal 2025 which ended on Jan. 31, per the submitting.
“Our shoppers are primarily digital-native excessive earners who prioritize financial savings and wealth accumulation,” the corporate stated. “Digital natives sometimes have giant 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 an extended 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 patrons.
Inside years, large banks together with Morgan Stanley and Financial institution of America unveiled their very own robo choices to enrich their giant armies of human monetary advisors.
In 2022, the Zurich-based international financial institution UBS stated it was shopping for Wealthfront for $1.4 billion in money, however the deal collapsed because the market turned abruptly 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.
Based in 2007 and primarily based in Palo Alto, California, Wealthfront employed 359 folks as of July 31, in response to the submitting.
— CNBC’s Jordan Novet contributed to this report.