Canada-based fintech and global digital investing service, Wealthsimple announced this week it has acquired SimpleTax, a Canadian web-based tax preparation service. According to Wealthsimple, both 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.”
Speaking about the acquisition, Michael Katchen, Co-founder and CEO of Wealthsimple, stated:
“Taxes are so ingrained in our lives, and like most financial services, the process of filing them is inherently complicated, challenging and expensive. 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.”
Jonathan Suter, Co-founder and CEO of SimpleTax, then added:
“Wealthsimple shares our values and dedication to building something better. It’s a perfect fit. We both set out to empower people with simple, honest, and transparent financial tools. Together, we can have an even greater impact.”