Wealthfront, which operates an automated investing platform, announced terms for its IPO on Tuesday.
The Palo Alto, CA-based company plans to raise $450 million by offering 34.6 million shares (38% secondary) at a price range of $12 to $14. Cornerstone investors BlackRock and Wellington Management have indicated on $150 million worth of shares in the offering (33% of the deal). At the midpoint of the proposed range, Wealthfront would command a fully diluted market value of $2.4 billion.
Known as a “robo-advisor,” Wealthfront’s platform offers a suite of financial products that span a broad risk spectrum delivered through web and mobile channels, such as cash management, investment advisory, borrowing and lending, and financial planning. The company targets younger “digital-first” clients, including Millennials and Gen Z. As of July 31, 2025, it had over 1.3 million funded clients and $88.2 billion in platform assets (53% cash management, 47% investment advisory), for average platform assets per client of about $67,000.
Wealthfront was founded in 2007 and booked $339 million in revenue for the 12 months ended July 31, 2025. It plans to list on the Nasdaq under the symbol WLTH. Goldman Sachs, J.P. Morgan, Citi, Wells Fargo Securities, and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of December 8, 2025.
