Wealthfront Officially Files for โฃIPO, Following Fintech Trend
Wealthfront, โคa pioneer in automated investing, publicly filed for an initial public offering (IPO) with the U.S. Securities โขandโ Exchange โCommission on Monday, joining a growing number โof financial technology companies too seek โขpublic funding this year. the company confidentially submitted its โคdraft registration statementโ in June.
The public filing signals Wealthfront’s intention to begin a roadshow to attract investors, with a listing expected within weeks. As of โJuly 31, Wealthfront reported $88 billion inโ assets under management and served 1.3 million customers, according toโข the filing. CEO David Fortunato leads the company.
“Digital natives typically have large liquid savings with longโข time horizons ahead, and they areโ undeterred by corrections and bear markets,” Wealthfront stated in its filing.
Wealthfront’s moveโ follows recent IPOsโ from fintech firms like Chime and Klarna. This story is developing โฃandโ willโค be updated asโฃ more facts becomes โฃavailable.