“[Canadian] robo-advisor posted a €2,6m [£2.3m] loss during 2017”, according to Damian Fantato at FTAdviser.
Wealthsimple launched in the U.K. in September 2017, and according to the statements gathered by FTAdviser, “a result Wealthsimple posted only £696 of revenue”.
Wealthsimple manages over €2,25bn and has over 100 000 clients globally.
In October, Wealthsimple launched pension products in the U.K. market.
Previously, Moneybox and several other independent robo-advisors operating in the U.K. posted losses in 2017, including Nutmeg and Scalable Capital.