Wealthfront Corp., a robo-advisory firm, filed publicly for an IPO amid a slew of fintech companies pursuing long-awaited listings.
The Palo Alto, California-based company had net income of $60.7 million on revenue of $175.6 million for the six months ended July 31, compared with net income of $132.3 million on revenue of $145.9 million a year earlier, according to a filing Monday with the US Securities and Exchange Commission.
Wealthfront had previously filed confidentially for an initial public offering, according to an announcement in June.
The potential listing would follow those of fintech companies Klarna Group Plc and Chime Financial Inc. that moved ahead with IPOs in recent months as the market recovered from disruption over the Trump Administration’s tariff policies. Auto finance platform Lendbuzz Inc. and insurance tech firm Ethos Technologies Inc. have filed for potential listings this month.
Wealthfront is best known for its automated investing products and an online platform that’s attracted younger customers. The fintech also offers other bank-like services, including high-yield savings accounts. It has $88.2 billion of platform assets as of July 31, the filing shows.
UBS Group AG agreed in 2022 to acquire Wealthfront for $1.4 billion to broaden its high-net-worth customer base, but abandoned the deal later that year.
The company’s investors include Tiger Global, which has a 19.7% stake before the offering, DAG Ventures with 12.3% and Index Ventures with 11.5%, the filing shows.
The offering is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. The company plans for its shares to trade on the Nasdaq Stock Market under the symbol WLTH.
