![]() ![]() The company’s headquarters and a large portion of its software development staff are located in Kyiv, Ukraine. Millions of people all around the world use it, and some of the best venture capital firms in the world, like General Catalyst and Blackrock, have invested in it. Grammarly is the maker of an AI-driven service that helps people communicate better in writing. ![]() Perhaps the most well-known Ukrainian IT firm is Grammarly. On Thursday, the first day of the Russian occupation, I had a chance to speak with a few of them. Moreover, Ukraine is home to a number of technological enterprises that serve millions of customers and organizations worldwide. Certain American sanctions, for instance, are aimed at preventing Russia from acquiring advanced technology for military and other uses. There are several ways in which the technological world has been affected by the conflict in Ukraine. Meanwhile, Ukrainians wait tensely for whatever comes next. Vice President Joe Biden said at a press conference on Thursday that sanctions imposed by the United States and its allies are not anticipated to instantly halt the Soviet advance. Russia invaded Ukraine in an official capacity on Thursday. The company has shown a clear willingness and ability to expand its offerings to incorporate even more of its customers’ financial lives when committed with new resources.Īccording to the most recent data that have been made public, the company claims to have over 1.5 million members and over $10 billion in assets under control.Ī large number of well-known IT enterprises and contract programmers for international clients may be found in this country. In addition to its original robo-advisory tools, the company also provides automated tax filing and savings and investment products. Wealthsimple will “increase its market position, develop out its product suite, and grow its team” using the money it has raised so far. Since the Wealthsimple app is free and separate from the company’s stock trading and cryptocurrency platforms, it has been rapidly adopted by users. Features-wise, the software is comparable to Venmo and Square’s Cash app, both of which are unavailable in Canada. Wealthsimple Cash, a peer-to-peer (P2P) money transfer app, had a soft launch before the end of last year and was made available to all Canadians in March. Its commission-free retail investment platform has expanded “rapidly” over the past 14 months, and its cryptocurrency trading platform, launched in August 2017, has also had great acceptance, the company adds. The company claims it expanded rapidly during the epidemic, which is a major factor in the dramatic increase in its valuation between the previous round of funding and this one. The Toronto-based firm has pioneered the process of making previously inaccessible stock trading, cryptocurrency sales, and P2P money transfers more widely available to the general public. ![]() Fox were among the individual investors that participated in the round, which was headed by Meritech and Greylock (basically, all the most famous Canadians).Ī post-money valuation of $1.5 billion CDN ($1.22 billion USD) was included in the last investment round disclosed in October, for which Wealthsimple raised $114 million CAD (about $93 million). Wealthsimple, a major player in the Canadian fintech space, has raised $750 million CDN ($610 million) at a post-money valuation of $5 billion CAD ($4 billion). ![]()
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