Wealthsimple Acquires Tax Software Company Simpletax

CNW Wealthsimple Release | Sep 24, 2019

Wealthsimple and simpletax - Wealthsimple Acquires Tax Software Company SimpletaxTwo of Canada's leading FinTech companies join forces to continue providing smart, simple financial tools for Canadians

TORONTO, Sept. 24, 2019 /CNW/ - Wealthsimple, Canada's leading online investment service, announced today that it has acquired SimpleTax, a Canadian web-based tax preparation service that makes preparing and filing tax returns quick and easy. Together, the companies aim to further their joint mission of making financial tools simple and accessible to everyone.

The acquisition marks Wealthsimple's first expansion beyond saving and investing, with the SimpleTax software joining its growing lineup of financial products, including a leading investment service, a high interest smart savings account and Canada's first commission-free trading platform.

"Taxes are so ingrained in our lives, and like most financial services, the process of filing them is inherently complicated, challenging and expensive," says Michael Katchen, Co-founder and CEO, Wealthsimple. "We have admired SimpleTax for years. They are doing what Wealthsimple did for investing by making tax filing easy, accessible and affordable. By bringing SimpleTax into the Wealthsimple family, we're one step closer to simplifying people's financial journey over their lifetime."

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"Wealthsimple shares our values and dedication to building something better. It's a perfect fit." says Jonathan Suter, Co-founder and CEO, SimpleTax. "We both set out to empower people with simple, honest, and transparent financial tools. Together, we can have an even greater impact."

Founded in 2012, SimpleTax has helped hundreds of thousands of Canadians prepare and file their taxes. The entire SimpleTax experience, including domain, client support and user interface, will remain the same for the 2019 tax season. Looking ahead, Wealthsimple will explore ways to enhance and complement the two brands with a more cohesive product experience.

With the acquisition of SimpleTax, Wealthsimple's innovative and low-cost products now help over one million Canadians simplify their finances. Wealthsimple aims to continue to expand its growing product lineup in an effort to reduce financial friction and become a leading digital financial institution.

About Wealthsimple
Wealthsimple is a financial company on a mission to help everyone achieve financial freedom by providing products and advice that are accessible and affordable. Using smart technology, Wealthsimple takes financial services that are often confusing, opaque and expensive and makes them simple, transparent, and low-cost. Wealthsimple provides services in the U.S., the U.K., and Canada. The company was founded by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto, Canada. To learn more, visit www.wealthsimple.com.

About SimpleTax
SimpleTax is an award-winning Canadian tax software that all started with a few simple questions. Why is preparing my tax return so complicated? Why is tax software so slow and expensive? Why do so many people turn to tax preparers, even for simple returns? We believe Canadians deserve better: taxes should be easy and transparent enough to do them yourself; the cost to prepare a return should be fair; tax software should be friendly, fast, and fun. To learn more, visit www.simpletax.ca.

SOURCE Wealthsimplert - Wealthsimple Acquires Tax Software Company Simpletax

For further information: Sarah Pattillo, spattillo@wealthsimple.com, 416-567-7844

 

 


NCFA Jan 2018 resize - Wealthsimple Acquires Tax Software Company Simpletax The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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