Wealthsimple has consolidated all of its financial technology products into one app, creating a digital-first alternative to Big Banks within a single interface.
“We took all the ways Wealthsimple helps you do money right and smooshed them all into a single, beautiful container,” the company wrote in a blog post, adding that “this was the idea all along.”
Within Wealthsimple’s all-encompassing app, a customer can perform many different operations: buy and sell hundreds stocks and dozens of cryptos, have a professionally managed portfolio, and use cash with the company’s 1%-back prepaid Visa card.
“Why are we doing it?” asks the Toronto-born fintech Unicorn. “To give you the big picture. Because it doesn’t really make sense to divide your money brain—log into one app to send rent money to your landlord, and another to see if your investments are on track to buy your own place. It’s all connected, and you want it to work that way.”
The new app is now available on the App Store.
“Solve all of your money needs in one place, and make it awesome,” Wealthsimple wrote. “That’s always been our vision.”
And while the update marks a milestone on Wealthsimple’s path toward empowering Canadian consumers, the company says it will release more later this year
“Wealthsimple has a bigger goal—to lower the barrier to entry, to democratize finance, to take the powerful financial tools that have historically been given only to the wealthy and put them right here, on your phone,” wrote the company. “Over the coming months, we’ll be adding more features to make our all-in-one app do even more.”
Wealthsimple was founded in 2014.