In 2021, Thiago Costa, Dennis Brotzky, and Thomas Russell founded Fey, an investing platform with a trader-focused design and toolkit.
This week, Toronto’s Wealthsimple acquired the Montreal-born upstart.
Polly D’Arcy, who services Wealthsimple as vice president of design, believes that “Traders today don’t just want more data.”
“They want clarity, speed, and confidence when making decisions,” she says.
Fey’s platform features earnings analysis, natural language stock screening, and a real-time personalized news feed.
Moving forward, these features will be integrated into Wealthsimple’s platform.
“Fey’s design-forward sensibility and technology gives us a leap forward in delivering the most intuitive trading experience in Canada,” posits D’Arcy. “One that’s simple enough for new investors and powerful enough for sophisticated traders.”
Fey cofounder Costa, head of design at his startup, recalls his inspiration for building the company.
“We were inspired to build Fey to serve the investors who’ve been overlooked,” he explains. “The ones who want powerful tools without the complexity of a terminal.”
Wealthsimple “shares our belief that finance can be both accessible and sophisticated,” he says. “By joining forces, we’ll make advanced trading tools beautiful, intuitive, engaging, and available to millions more people.”
The acquisition positions Wealthsimple to bridge the gap between basic trading apps and complex brokerage platforms, according to a statement from the Ontario fintech, with some of Fey’s features launching on the platform by the end of the year.
Founded in 2014, Wealthsimple currently serves three million Canadians and holds over $80 billion in assets.
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