Wealthfront, which operates an automated investing platform, raised $485 million by offering 34.6 million shares (38% secondary) at $14, the high end of the range of $12 to $14. Cornerstone investors BlackRock and Wellington had indicated on $150 million of the IPO (now 31% of the deal). At pricing, the company commands a fully diluted market value of $2.6 billion, 8% higher than previously anticipated.
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 plans to list on the Nasdaq under the symbol WLTH. Goldman Sachs, J.P. Morgan, Citi, Wells Fargo Securities, and RBC Capital Markets acted as joint bookrunners on the deal.
