Wealthfront Files for US IPO: A Sign of Fintechs Growing Popularity in Public Markets
Wealthfront, a digital wealth management company based in Palo Alto, California, has confidentially filed for a US initial public offering (IPO). The number of shares and price range for the offering remain undetermined, and the IPO is anticipated after the SEC's review, contingent on market conditions.
This move aligns with a trend of fintech companies entering public markets. Wealthfront's IPO plan follows Chime Financial's recent $864 million IPO, signaling a resurgence in fintech public offerings. Other fintech firms like Klarna Group and Plaid have also expressed intentions for IPOs, according to Bloomberg.
Founded in 2008 by Andy Rachleff and Dan Carroll, Wealthfront offers services such as cash management, diversified ETF and bond investing, zero-commission stock investing, and low-cost loans. The company aims to assist both sophisticated and novice investors in building wealth.
In April 2025, Wealthfront CFO Alan Imberman disclosed that the company surpassed $80 billion in client assets and has achieved EBIT margins over 40% since 2023. Wealthfront's team comprises approximately 330 employees working across the US. Over the past decade, Wealthfront's assets have increased 40 times, with revenue growing even more. As of March, the annual revenue run rate exceeded $340 million, a 57-fold increase.
In early 2022, UBS had planned to acquire Wealthfront for $1.4 billion, but the deal was later called off. Last month, Wealthfront revealed that Michelle Wilson has been appointed to its board of directors. With over 25 years of experience counseling startups such as Okta, Pinterest, Stripe, and Zendesk, Wilson also worked as Amazon's General Counsel for 13 years.
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