The BetaKit Podcast Channel Can Wealthsimple build Canada’s largest financial institution?
Oct 6, 2024
Join Michael Katchen, Co-founder and CEO of Wealthsimple, and Brett Huneycutt, Co-founder and CPO, as they celebrate a decade of transforming Canadian finance. They reveal how Wealthsimple grew to manage an impressive $50 billion in assets and discuss their plans for an IPO and international expansion. Learn about their commitment to creating a user-centric financial platform amid traditional market challenges and their innovative strategies to build trust and enhance customer experiences in a banking-dominated landscape.
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Spreadsheet Sparked A Startup
- Mike built a spreadsheet to advise friends and users asked him to do it for them, sparking Wealthsimple's idea.
- That personal start turned into a company focused on making investing simple and delightful.
Manual Backend Hidden Behind Simple UI
- Early Wealthsimple printed applications and couriered them to open accounts because back-end systems wouldn't support digital onboarding.
- The team literally executed manual work to match their simple front-end promise.
Launch MVP, Delay Nonessential Features
- Ship a minimum viable product to validate demand and iterate on real user behavior.
- Prioritize core value first and delay nonessential features until customers show up.